Thanks to new federal legislation, more Iowans will be eligible for a tax credit this year that could put more than four-thousand dollars in their pockets. I-R-S spokeswoman Donna Migazzi says changes in the law will enable more people to take advantage of the Earned Income Tax Credit. Last year, 146-thousand Iowans claimed the tax credit and received more than 219-million dollars. Due to further changes in the law, more people will be eligible this year, but Migazzi says it’s not yet clear how many more. She explains what the credit is and who can benefit. It’s generally for low- to middle-income earners and is a refundable tax credit, meaning, even if you don’t pay taxes because your income level falls below the filing requirements, you can still get this refund in the form of a refund. For more information, consult “www.irs.gov” or call 800 829-3676.
You are here: / New legislation could give you back some tax money