What is EITC?
The Earned Income Tax Credit (EITC) is a federal tax benefit for working people who earn low or moderate incomes. It has several important purposes: to offset taxes, to supplement very low wages, and to provide a work incentive.
Single or married people who worked full-time or part-time at some point in 2008 can qualify for the EITC, depending on their income. This year, eligible families can get as much as $4,824 from the EITC, and more if they also qualify for the Child Tax Credit (CTC).
In 2007, 23.1 million eligible families and individuals nationally claimed EITC worth $44.6 billion. But that is not enough! There are still millions of Americans, and thousands of local residents who are not claiming the money they have earned.
