It’s Federal income tax filing season! Each year the Department of Commerce partners with a number of other agencies and organizations to promote the Earned Income Tax Credit (EITC). The goal is to reach out to families and individuals with low-to-moderate incomes, educate everyone about the credit, and motivate all who are eligible to file for free to claim their refund. It is important that those who worked in 2014 do not miss out on thousands of dollars they’ve earned because they fail to claim the EITC.
The EITC can reduce taxes owed and result in a huge refund (as much as $6,143!). This means working families and individuals can keep more of what they earn and life will be a little easier. However, in order to get this benefit, you must file on time and claim the credit. The Internal Revenue Service will begin accepting electronic tax returns beginning on January 31, 2015.
File for Free:
In addition, many families and individuals are able to have their federal tax return prepared and e-filed for FREE. To help you find a nearby location, just call 2-1-1 or search “free tax preparation” at the IRS website.
Get the Facts:
You are welcome to view posters, flyers, multi-language documents, and bookmarks from the Department of Commerce’s online EITC marketing toolkit to get more information about the EITC.
Last year, 448,000 Washington individuals and families received $960 million in EITC refunds. However, the program still goes unused by about 25% of Washington state’s qualified workers who don’t realize they are qualified. Don’t forget the Earned Income Tax Credit (EITC) when you file this year, and please help spread the information to everyone eligible!