If you know anyone who earned less than $49,000 in 2009, they may be eligible for up to $5,600 in Earned Income Tax Credit (EITC) – and they can get their taxes done free beginning in January.
Many families have their taxes done using their year-end paycheck and sometimes pay more than they should, especially if they want a quick refund. By taking advantage of the free tax preparation, these working families and individuals can keep more of what they earn.
Eligibility requirements for the 2009 EITC are:
• Families with three or more qualifying children who earn less than $43,279 (or less than $48,279 married filing jointly) are eligible for a credit of up to $5,657.
• Families with two qualifying children who earn less than $40,295 (or less than $45,295 married filing jointly) are eligible for a credit of up to $5,028.
• Families with one qualifying child who earn less than $35,463 (or less than $40,463 married filing jointly) are eligible for a credit of up to $3,043.
• Workers without a qualifying child who earn less than $13,440 (or less than $18,440 married filing jointly) are eligible for a credit of up to $457.
Another credit sometimes overlooked is the Child Tax Credit, which is up to $1,000 per qualifying child. For tax year 2009, the minimum income threshold needed to qualify for the Additional Child Tax Credit has been reduced from $12,050 to $3,000, so more families will be eligible.
The free tax preparation service is offered by partners of the EITC Taskforce, including United Way of Tucson and Southern Arizona. All tax preparers are trained volunteers. Fifteen sites will be open throughout Tucson and Pima County by the end of January 2010.
In 2009, the EITC Task Force prepared 5,727 tax returns in Pima County and an additional 2,278 throughout Southern Arizona for a total of 8,005 returns. Through these efforts, the coalition brought in $9.1 million in total tax refunds, $4.6 of which was from the EITC.
If you know anyone who would benefit, spread the word. Help low- and moderate-income working families and individuals keep more of what they earn.
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