Have you ever heard of the Earned income Tax Credit (EITC)? The Department of Housing and Urban Development and the Internal Revenue Service joined forces to help low-income taxpayers receive free tax assistance and to learn about important tax benefits.
Low-income families will learn about the Earned Income Tax Credit and the child tax credit.
Did You Miss This Credit?
Twenty-One million low-income families qualified for EITC and received $36 billion. Internal Revenue studies show millions more are eligible but fail to claim the credit. This may seem amazing but, the maximum credit is for $4,300 for a family with two children or more. Of course, it’s based on having an income below a certain level. It changes every year so, you will want to check the IRS tables for the EITC.
Get What You Deserve
If you have a low-income then, you are entitled to free tax preparation and many other benefits as well. The partnership between HUD and the IRS will work to encourage community-based collaboration to educate and assist low-income families.
The Purpose of the Partnership
- Assist low-income families through educational outreach programs on tax issues
- Assist low-income families with free tax preparation, and free electronic filing
- Provide information on Earned Income Tax Credits, and child tax credits
- Provide information on how tax credits can be used to build assets
Do You Qualify?
You may be wondering if you fit into this category to take advantage of these benefits. You can do a couple of different things to find out. You can go to the IRS website and search for terms like low-income tax credits or Earned Income Tax Credits. You may want to try an online tax preparation software company like Turbo Tax Online.
Don’t Miss out on the Tax Credit
You have no idea how many millions of dollars are unclaimed by low-income families who deserve every penny. Take advantage of this family tax credit and don’t ever miss out again. Did you know you can go to TurboTax Online and try their software for free?
You are guaranteed the largest refund possible! They search for over 350 different deductions you can claim and their program would never miss a huge tax credit for low-income families! The IRS may deposit over $4,000 right into your pocket!