Snohomish Times Newspaper: Earned Income Tax Credit money available

Published:2010-02-01 Other
Earned Income Tax Credit money available

The state is urging you to apply for your share of millions in Earned Income Tax Credit money available to eligible families and individuals from the Internal Revenue Service (IRS). National Earned Income Tax Credit Day is Friday, January 29 designated to help raise awareness of this federal program that goes unused by about 20 to 25 percent of qualified workers who are entitled to receive a check for up to $5,657. Based on these estimates, as much as $140 to $174 million could go unclaimed by Washington residents eligible for the credit.

You work hard and you earn every dollar, said Gov. Chris Gregoire. Taking advantage of the tax credit is the right thing to do for yourself and your family.

Thousands of working families and individuals in Washington each year fails to apply for the credit, missing out on their share of the money. Seniors, individuals with low incomes, and non-English speaking tax payers account for much of the unclaimed credits because they do not realize that they are eligible for it. Last year, 380,000 people applied for the credit, bringing about $696 million into the states economy.

The Washington State Department of Commerce has teamed up with the IRS, AARP Tax Aide, Community Action agencies, United Way agencies, banks and credit unions across the state to remind eligible taxpayers that they must file a 2009 federal income tax return to receive the Earned Income Tax Credit even if they owe no tax. Communities throughout Washington are taking part in the national Earned Income Tax Credit Day on Friday to promote the tax credit.

Groups promoting the Earned Income Tax Credit (EITC) have a simple message: Its your money. Come get it. Any individual or couple who worked in 2009 should file for the EITC. The amount of the tax credit depends on family size and gross income. The American Recovery and Reinvestment Act (ARRA) also provides a temporary increase in EITC for taxpayers with three or more qualifying children. Following are eligibility requirements:

With three or more qualifying children, income less than $43,279 or $48,279 if married filing jointly. Maximum refund: $5,657
With two qualifying children, income less than $40,295 or $45,295 if married filing jointly. Maximum refund: $5,028
With one qualifying child, income less than $35,463 or $40,463 married filing jointly. Maximum refund: $3,043.
With no children, income less than $13,440 or $18,440 married filing jointly. Maximum refund: $457.

Free tax preparation services are available to low and moderate-income families now through April 15. A directory of site locations throughout the state is available by dialing 2-1-1, Washingtons Information Network. Ask for free tax preparation and operators will provide free tax site locations and hours in your area.

Commerce is the lead state agency charged with growing and improving jobs in Washington State. For more information, visit www.commerce.wa.gov.

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