IRS Says Many Don’t Know About Earned Income Tax Credit
By MJ Kneiser, WLHR Radio, Lavonia
Now that tax filing season is underway, the Internal Revenue Service is reminding moderate to low-income tax payers they may be eligible for the Earned Income Tax Credit.
The Earned Income Tax Credit is a work incentive for individuals and families who earn less than $51-thousand dollars a year. IRS spokesman Mark Green said, however, many taxpayers who are eligible to receive the credit, don’t know about it.
“Here in Georgia, four out of five taxpayers have taken the credit in the past, but we want to make sure that everyone who qualifies takes the credit,” Green said. “In 2012, over one million tax returns were filed, resulting in over $2.8 billion in Earned Income Tax Refunds. And that’s just in Georgia alone, but many taxpayers are still missing out on the credit.”
Workers, those who are self-employed and farmers who earned $51,567 or less last year could receive larger refunds if they qualify for the EITC. That could mean up to $487 in EITC for people without children, and a maximum credit of up to $6,044 for those with three or more qualifying children,
To find out if you qualify for the Earned Income Tax Credit, you can go online to www.IRS.gov and click on Earned Income Tax Credit or call the IRS by simply dialing, 211.