ARE YOU ELIGIBLE FOR EITC?
GET IT, AND GET IT RIGHT WITH VOLUNTEER HELP
Hempstead, NY January 31, 2014
Working families may get a larger tax refund this year because of the Earned Income Tax Credit, but to get it, you must claim it. Today, January 31, marks the 8th National EITC Awareness Day, a nationwide effort to increase awareness about EITC and free tax preparation sites.
Volunteers – trained by the Internal Revenue Service – are available to help you claim the EITC and other tax benefits for which you are eligible. They will prepare your tax return for free.
If you worked last year and your Earned income and adjusted gross income (AGI) was,
- $46,227 ($51,567 married filing jointly) with three or more qualifying children
- $43,038 ($48,378 married filing jointly) with two qualifying children
- $37,870 ($43,210 married filing jointly) with one qualifying child
- $14,340 ($19,680 married filing jointly) with no qualifying children
you should check out your eligibility for EITC. You also can get free help preparing your tax return. Nationwide, millions of people miss out on EITC because they do not claim it on their tax return or they do not have a filing requirement.
On average, EITC adds $2,300 to working families’ refunds. It can mean an additional $487 for people without children up to $6,044 for those with three or more qualifying children. Last year in New York, more than 1.7 million workers received $3.9 billion in EITC refunds averaging $2,255.
EITC is also complex. It varies by income, family size and failing status. To be eligible, you must have earned income or certain disability income. This means you must have income from wages, self-employment or farming. You do not have to be married or to have children to qualify. A trained volunteer can help you determine if you meet these and other EITC rules.
- Find a volunteer free tax return preparation site at: http://www.irs.gov/Individuals/Find-a-Location-for-Free-Tax-Prep
- Call 211 to find a volunteer free tax return preparation site
Workers should come prepared to a volunteer site with the following:
- A valid driver’s license or other photo id card
- Social security cards, a Social Security number (SSN) verification letter or the Individual Taxpayer Identifying Number (ITIN) for all persons listed on the return
- Birth dates for all persons listed on return
- All income statements: Forms W-2 and 1099, Social Security, unemployment, and other statements, such as pensions, stocks, interest and any documents showing taxes withheld
- All records of expenses, such as tuition, mortgage interest, or real estate taxes
- Copies of last year’s state and federal tax returns, if available
- Bank routing numbers and account numbers to direct deposit any refund
- Dependent child care information: name and address of who you paid and either the caretaker’s SSN or other tax identification number
- Both spouses to sign forms to e-file (electronically file) a joint tax return
Community volunteers will help you get EITC and the maximum refund you’re due. This is money you can save or use to pay off bills, buy that car to get to work or make a down payment on a home. Let us help make your life a little easier.
About Earned Income Tax Credit (EITC)
EITC, the Earned Income Tax Credit, sometimes called EIC or Earned Income Credit is a refundable tax credit. Meaning, EITC can reduce the federal tax to zero and any unused credit is refunded. But, workers must file a tax return to get the credit even if their income is below the filing requirement. To qualify, workers must have taxable income from working for someone or from running a business or farm.
About Long Island Volunteer Center (LIVC)
The Long Island Volunteer Center is the resource center for volunteerism and community service initiatives throughout Nassau and Suffolk counties. Established in 1992, LIVC operates year round and its services are provided free of charge. The LIVC collaborates with corporations and community organizations to address the needs of Long Islanders. LIVC is an affiliate of the HandsOn Network since 2008, connecting agencies seeking volunteers with individuals and groups looking for ways to serve their communities. In 2011, the LIVC was designated by New York State as the Regional Volunteer Center for Long Island. A member agency of the Long Island Voluntary Organizations Active in Disaster, LIVC has taken the lead on volunteer engagement and coordination in support of Superstorm Sandy relief and recovery efforts. For further information, please access http://www.longislandvolunteercenter.org or contact 516-564-5482.