Many Taxpayers May Overlook Valuable Tax Credit
In today’s difficult economy, the Earned Income Tax Credit (EITC) can make life a little easier for workers and their families struggling to make ends meet. Yet, the Internal Revenue Service (IRS) estimates that one in four eligible taxpayers could miss out on this valuable tax credit because they aren’t aware that they qualify.
The EITC is a refundable tax credit for people who work but do not earn high incomes. Senator Oppenheimer (D-Mamaroneck) urges anyone who earned $48,279 or less from wages, self-employment or farming in 2009 to see if they qualify. Eligible taxpayers can get their EITC, which can amount to $5,600 or more, only if they file federal income tax returns and specifically claim the credit.
“Many people will quality for the EITC for the first time this year because their incomes declined, their marital status changed or they added children to their families,” said Senator Oppenheimer. “Families with three or more children may qualify for a larger credit this year.”
“Taxpayers earning less than $49,000 can get free help determining their EITC eligibility and preparing their federal and state tax returns at these locations in my Senate district:
Chappaqua Library (914) 238-4779
195 S. Greeley Avenue
Chappaqua, NY 10514
New Rochelle Public Library (914) 632-7878
1 Library Plaza
New Rochelle, NY 10801
IFCA VITA (914) 941-5252
138 Spring Street
Ossining, NY 10562
Ossining Public Library (914) 941-2416
53 Croton Avenue
Ossining, NY 10562
Port Chester Public Library (914) 939-6710
1 Haseco Avenue
Port Chester, NY 10573
One Employment Center – White Plains (800) 899-1479
120 Bloomingdale Road
White Plains, NY 10605
Theodore Young Community Center (914) 682-3622
32 Manhattan Avenue
White Plains, NY 10607
White Plains Senior Center (914) 422-1424
65 Mitchell Place
White Plains, NY 10601
Interested taxpayers should contact the above locations for the exact dates and times when trained IRS volunteers will be present to assist them.”
In order to help accurately determine EITC eligibility and prepare their returns, taxpayers should bring with them: photo identification, social security card numbers and birth dates for the taxpayer, spouse and dependents, all wage and earning statements (W2, W-2G, 1099-R), interest and dividend statements (1099), copies of previous year’s federal and state returns, bank routing and account numbers for direct deposit, day care expenses and providers identifying number and other relevant income and expense information.
“The Earned Income Tax Credit can provide a measure of financial relief for individuals and families who are struggling in this tough economy, so please take the time to see if you qualify,” concluded the Senator.