The Internal Revenue Service is using today to highlight a tax credit that many people are eligible for, but don’t get simply because they don’t ask. David Williams, is the director of the Earned Income Tax Credit program. Williams says the EITC is for people who work, but don’t make a lot of money, which means there’s a cap on the income. The cap is $38,000 a year for a couple married and filing jointly, and about $15,000 for an individual.
Williams says "EITC Awareness Day" is designed to let people know how to ask for the credit. Williams says they’re making information available on the IRS website to enter information and find out if they are eligible for the credit. If you can’t get on the website, Williams says you can check with an IRS office, or one of they can go to one of the volunteer assistance sites the IRS is setting up this year. Williams says the credit can give people a big boost.
Depending on your filing status, the credit can go from 412-dollars to four-thousand-536 dollars. Williams says many people are already helped by the credit. He says last year just under 170-thousand people in Iowa got 286-million dollars from the credit. Williams says you don’t have to file a tax return to get the earned income credit. Williams says even if you don’t owe taxes, the government will send you a check for the credit. For more information, call your local IRS office, or chekc out the IRS website.