Don't Overlook The EITC Tax Credit!

January 26, 2012

Want to keep more of the money you earned? If you make less than $49,078 per year, you may qualify for the Earned Income Tax Credit (EITC). This special tax credit can put up to $5,751 into your pocket (even more if you live in certain states). It can be especially helpful to workers with disabilities and to working parents of children with disabilities.

Do You Qualify? Here’s What You Need To Know:

You must have earnings from a job. Self-employment and farming count, but money that you get from Social Security (SSI and SSDI) does not.
You need to file a federal income tax return, even if your income level is low enough to make it optional.
When you file your return, you have to specifically claim the EITC to get it.
You cannot owe any back taxes when you file your return.

You worked hard for your money, so take advantage of the EITC, and keep as much of it as possible!

For more information on the EITC and for free help filing your tax return, visit:

The EITC Assistant at http://www.irs.gov/ to determine your eligibility
Free File, available at http://www.irs.gov/, lets you file your return electronically and claim the EITC using brand-name tax software – at no cost.
If you earn $50,000 or less per year, free tax preparation assistance is available at many community locations. Check your local newspapers, and radio and television stations for more information.

The EITC can make your life a little easier. There may be money due to you. You earned it. File now and claim it!