The director of the program for the IRS, Ken Corbin, says if you made money working in 2015, you may be eligible. “Any person who has earned income from employment — whether you are running a business, farming or self employed — could potentially qualify for EITC,” Corbin says. He says taxpayers all across the country take advantage of the tax credit.
“Nationwide last year, over 27 million families received more than 66 billion in Earned Income Tax Credit dollars,” according to Corbin. “The average EITC refund to those families was over $2,400.” He says there are still one in five people who may be eligible, who don’t know about the credit, or don’t file for it.
“Meaning that more than one million of the taxpayers are not putting EITC dollars to work for them,” Corbin says. “Anyone with earnings of $54,000 or less should see if they qualify at IRS.gov, search word: EITC.” Corbin says many Iowans do take advantage of the credit.
“Over 200,000 Iowans claimed the EITC last year, bringing in a combined refund amount of over $450 million back into the economy of Iowa. With an average refund of more than $2,200,” he says. You may’ve checked in the past and found you weren’t eligible for the credit. Corbin says you should check again, especially if you’ve had some major changes in your life.
“Marital status changes, they might have children, employment changes, changes in their income,” Corbin says. He says you should check each tax year to see if changes might make you eligible.
Corbin says you can still file and claim the EITC tax credit even if you are not required to file a tax return.