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 2011 can qualify for the EITC, depending on their income, which for 2011 is $50,000 for an individual or a combined income if married, filing jointly.This year, eligible families can get as much as $5,700 from the EITC, and more if they also qualify for the Child Tax Credit (CTC).
In 2011, the Thomas Jefferson Area EITC Coalition helped low-income taxpayers file 1,506 tax returns. Our efforts generated an economic impact of more than $2.6 million, including federal refunds claimed and tax preparation fees sayved by tax payers.
