Did You Know? Today is EITC Awareness Day
You may have already received your W-2 in the mail from your employer, which means (drum roll please!) the 2012 tax filing season is officially underway. In the spirit of the season, so to speak, the IRS is kicking things off with EITC Awareness Day. In case you aren’t familiar with the EITC, aka the Earned Income Tax Credit, it is a refundable federal tax credit for working families that can be worth up to $5,751 for tax year 2011 (the year for which you’ll be filing your taxes now, in 2012). Along with the federal Child Tax Credit (a refundable credit worth up to $1,000 per child) and the Child and Dependent Care Tax Credit (a nonrefundable credit that helps families with child and dependent care costs incurred in order to work or look for work), as well as analogous state tax credits, the EITC can provide working families a significant financial boost. And in these tough economic times, families need all the help they can get.
So how can you and advocates in your community help families take advantage of available tax credits? It’s easy. Get information about tax credits and free, state-specific outreach materials on NWLC’s Tax Credits Outreach Campaign webpage – and sign up to become a community partner. The IRS has helpful information and contact numbers on its EITC Central website. You can also find an EITC coalition in your area by checking with the National EITC Outreach Partnership, a project of the Center on Budget and Policy Priorities.
You can make a real dollars-and-cents difference by spreading the word about tax credits, like the EITC, to working families this tax filing season. And there’s no better time to start than EITC Awareness Day.
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