People who work but don’t earn a lot of money may be eligible for the Earned Income Tax Credit [EITC], as well as free help preparing their tax return. January 28, 2011, will be EITC Awareness Day, a nationwide effort to increase public awareness about EITC and free tax preparation sites.
IRS estimates that 20 to 25 percent of eligible taxpayers fail to claim the credit which could put as much as $5,036 into the pockets of a family with two children, or send as much as $3,050 to a family with one child, or up to $457 for a worker with no children. The Earned Income Tax Credit is the federal government’s largest program benefitting lower earning workers.
The extra dollars eligible taxpayers can get through EITC can make their lives a little easier,” said Odessa Adams-Payne, “but they must file tax returns, even if they aren’t required to file, and claim the credit to receive it.”
For free tax preparation, go to myfreetaxes.com or call 2-1-1 for more information.