EITC Lookback Act

119 HR 2898 IH: EITC Lookback Act U.S. House of Representatives 2025-04-10 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. I 119th CONGRESS 1st Session H. R. 2898 IN THE HOUSE OF REPRESENTATIVES April 10, 2025 Mrs. Sykes introduced the following bill; which was referred to the Committee on Ways and Means A BILL To amend the Internal Revenue Code of 1986 to establish a permanent lookback provision with respect to the Earned Income Credit. 1. Short title This Act may be cited as the EITC Lookback Act . 2. Earned income credit lookback (a) In general Section 32 of the Internal Revenue Code of 1986 is amended by adding at the end the following new subsection: (o) Lookback If the earned income of the taxpayer for the taxable year is less than the earned income of the taxpayer for the preceding taxable year, the credit allowed under subsection (a) may, at the election of the taxpayer, be determined by substituting— (1) such earned income for the preceding taxable year, for (2) such earned income for the taxable year. . (b) Effective date The amendment made by this section shall apply to determinations made with respect to taxable years beginning after December 31, 2024.