Getting the Word Out about EITC

13 Jan 2016 11:35 AM | Anonymous

When low-income working New Jerseyans file their taxes this year, they will be seeing a 50% increase in their state Earned Income Tax Credit benefit (to 30% of the federal EITC). But families will only see the benefit if they file a tax return and apply.

The EITC is a benefit for working people with low to moderate incomes. To qualify, you must meet certain income and household requirements. You must also file a tax return, even if you are not required to do so for income reasons. Many low-income families earn so little that they owe no taxes, so they may not file a return. They may not know that EITC not only reduces the amount of tax you owe, it also gives you a refund.

The EITC has long been a top priority of the advocacy network. In June of last year, the Anti-Poverty Network, along with Senate President Sweeney and Senator Turner, convened a roundtable discussion with low-wage workers to highlight the importance of the EITC. In addition to helping working families, the increase to the EITC can also help New Jersey’s struggling economy, according to an analysis by New Jersey Policy Perspective.

Getting Help to Claim the EITC:

The IRS provides helpful tools to learn more about the benefits and how to apply. To learn if you qualify for the EITC and how to claim this benefit click here.

The IRS Volunteer Income Tax Assistance (VITA) and the Tax Counseling for the Elderly (TCE) programs offer free tax help for low- and moderate-income tax filers. Click here to find a site near you.

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