The Earned Income Tax Credit puts money in the hands of hard-working taxpayers and can be a significant financial boost to individuals, their families, and local communities. It can return as much as $6,242 to families earning less than $53,267.
IRS estimates that only four of five eligible workers claim and get their EITC. That fifth eligible worker could be you, your neighbor, or co-worker, or cousin.
Make sure you know your own status, and then help spread the word so others know about EITC and how to get more information.
Why we need your help
EITC is not automatic. To get EITC, eligible workers must file a federal income tax return (even if they are not otherwise required to file) and they must specifically claim the credit – so it’s important that eligible taxpayers KNOW that they are eligible, and how to claim it.
You can also move in and out of EITC eligibility from year to year based on your tax filing status, the number of qualifying children you can claim, and your financial situation. Every year, approximately one-third of the taxpayers qualifying for EITC are newly eligible.
The IRS has an EITC Assistant that can help you determine if you are eligible by asking a series of simple questions. It will be updated for the 2015 tax year in early January.
Also, when checking eligibility for EITC, don’t overlook other tax credits related to family and dependents that you might qualify for.
EITC Awareness Day – January 29, 2016
Friday, January 29 is EITC Awareness Day! Groups engaged in financial literacy and tax education around the country will work together to raise awareness of EITC by holding events and sharing information.
Keep an eye out in your community for events, or share information about our page on claiming the EITC with others who want to learn more about EITC.
EITC is there to help you, your family, and your community – spread the word!