Tax Credit For Working Families
Friday February 1, 2008
There are 10,000 additional families in Polk County who could be eligible for the Earned Income Tax Credit for 2007. With an average EITC claim of $2,000, these families could leave up to $20 million dollars unclaimed in Washington. These funds would ultimately help take some financial burden off of local families and help boost our local economy.
The Earned Income Tax Credit was established by a Congressional act in 1975 to encourage employment and supplement working wages of families. According to the IRS, an estimated 20% of eligible families do not claim the return credit. Although the credit is often overlooked, individuals may be eligible if they have worked any part of the tax year. In 2006, approximately 50,000 Polk County residents claimed the credit.
To help families take advantage of the EITC, 9 Free Tax Preparation Sites have been established in Polk County. Supported by the Family Financial Stability Partnership, a coalition of organizations whose goal is to help working families with financial education, these Free Tax Preparation Sites provide volunteers to help with tax returns. Site volunteers can help families determine if they qualify for EITC benefits.
To find out the locations of the 9 Polk County sites, call United Way 2-1-1.
