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You are here: Home / IRS says many not taking advantage of Earned Income Tax Credit

IRS says many not taking advantage of Earned Income Tax Credit

January 31, 2008 By admin

The director of the Earned Income Tax Credit (EITC) Program for the Internal Revenue Service says one in four eligible Iowans are missing out on the special tax benefit. Debra Holland says there are a variety of reasons.

"Some people may not earn enough money to be required to file a tax return and yet they may qualify for EITC and don’t realize it," Holland said. "There are some workers without children who may not realize that they’re eligible for the credit or there may be language barriers for some individuals."

For many taxpayers, the credit would be significant. Holland says some people could collect $4,700 from the tax credit. Last year, more than 174,000 Iowa taxpayers received more than $304 million in EITC.

Holland says anyone with income of less than $39,000 a year should check on their eligibility. Iowans who are eligible for the EITC can also get free help in preparing their tax returns. Holland says the IRS works with organizations like the United Way, Goodwill and AARP to offer free tax assistance – or eligible taxpayers can use the "free file" function at the IRS website .

 

 

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Filed Under: Uncategorized Tagged With: Taxes

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