The IRS reports that one in five workers is unaware that they qualify for the EITC.
Many people will qualify for the EITC for the first time this year due to changes in their income, marital or parental status. Households that earned $52,427 or less in 2014 may qualify for an EITC refund worth up to $6,143. These credits have helped millions of filers pay rent and bills, and even save for big purchases like a home or a car. However, many people do not realize they qualify. Even if workers who do not need to file federal tax returns based on income, they must do so to claim this valuable credit.
The EITC is a refundable credit available to qualifying workers and their families. The value of the credit varies depending on family size, income and filing status, so it’s essential that workers find out if they qualify.
To ensure that eligible households receive the EITC, Goodwill is also partnering with the National Disability Institute and United Way to expand free online and in-person tax preparation and filing assistance to qualified individuals. Funded by the Walmart Foundation, MyFreeTaxes.com is the nation’s only free online tax preparation and filing initiative available in all 50 states and the District of Columbia for workers with a household income $60,000 or less. The online platform allows filers to self-file using a simple step-by-step process that includes free telephone, email and online chat support with IRS-certified tax specialists.
Not sure if you qualify for the EITC?
MyFreeTaxes.com, has an online EITC calculator which allows people to quickly enter their tax filing information and see if they qualify for the tax credit.
Workers need to make sure they’re getting all the tax credits they have earned. To access Goodwill’s free EITC calculator and other EITC planning tools, visit MyFreeTaxes.com.
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