The Internal Revenue Service is trying to highlight changes in the Earned Income Tax Credit in hopes that more people will take advantage of it this year. Verlinda Paul oversees the program for the I.R.S.. Paul says the credit has been expanded by law to provide a larger credit for larger families and the income guidelines have also changed.
Paul says they believe the economy will lead to even more people being eligible for the credit. She says many people are going from full to part-time work, their hours have been cut, or they have lost their job. Paul says their research finds only one in four people who are eligible get the credit. Paul says you can find out if you’re eligible on the I.R.S. website at:www.irs.gov
Paul says you can answer a few questions and find out if you are eligible, or you can go to any I.R.S. office and find out. She says you can also get help in filing a tax return, as you must file a return to get the credit. She says even if you have no income, you still need to file a return to be eligible to claim the credit.
She says anyone making $48,000 or less needs to check out the credit. Paul says the credit can help those who are struggling. Paul says the maximum credit for a married family of three is about $5,600, but the average credit is about $2,000
She says 189,000 taxpayers claimed the credit in Iowa last year, claiming over 350-million dollars. You can call 1-800-906-9887 to find help with your taxes or you can find a list of I.R.S. offices at: www.irs.gov.