What is the EITC?
The Earned Income Tax Credit
(EITC) is a federal tax credit available to many
low-income families and
individuals who worked during the tax year. This
credit is not based on taxes withheld from a person’s
paycheck, but on how much total income a taxpayer
earned over the course of the year. Low-income
families can qualify for up to $4,741 in federal
money, but
most people are unaware of the EITC and therefore
don't apply for it. Don't be left out this year!
Do You Qualify?
You may be eligible to receive up to $4,741 from
the Earned Income Tax Credit, the tax refund for working
people. You earned this money, so don't let your refund
go unclaimed. Get your taxes prepared for FREE at
a neighborhood tax preparation site and KEEP the money
in your pocket! SAVE it or use it to build a better
future for you and your family.
Are you eligible for the EITC? Yes, you may be
eligible if you are....
| SINGLE... |
MARRIED... |
- with 2 or more children and earn $34,458
or less
- with 1 child and earn $30,338 or less
- with no children and earn $11,490 or less
(and you are between 24-65 years old)
|
- with 2 or more children and earn $35,458
or less
- with 1 child and earn $31,338 or less
- with no children and earn $12,490 or less
(and you are between 24-65 years old)
|
Presentations
Here are a two presentations from the National Community
Tax Coalitions - Annual National Conference: Building
Prosperity for Working Families.
The conference focused on using free tax preparation
coalitions as a vehicle for providing financial services,
financial education and
asset building strategies for low income working
families.
National
Community Tax Coalition Conference Building
Partnerships Presentation 
A presentation on Building Partnerships discusses
how and why the FRBB got involved and some of our
specific contributions to
Boston's EITC campaign. The presentation also promotes
the idea that Federal Reserve Banks around the country
are a good resource for
information on fair access to credit and capital,
financial and economic education and wealth building
strategies in LMI and new immigrant
communities.
“Billions
Still Left On The Table”
A presentation on Wealth Building Solutions
is structured around two key points: 1) an
IRS statistic that suggests
15 - 20
percent of the $36 billion EITC goes unclaimed
every year and 2) as a national coalition
of local EITC
campaigns - we need to do a better job sharing
best practices and developing standards to
get all
of the assets provided through the EITC on the table.
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