Wednesday, March 6, 2013

Tax Time -- remember the EITC

The Earned Income Tax Credit (EITC, or EIC as it’s sometimes known) puts money back into the pockets of qualifying low- and moderate-income working taxpayers when they file their tax returns. Higher income limits and credits this year mean more filers will qualify for the EITC, and those who do qualify will get a bigger check.

Consumer Action’s brochure Get Credit for Your Hard Work provides the EITC information your clients need, including income limits, eligibility criteria and how to file. Updated for the 2012 tax year, this resource is available free online or as a printable PDF download in English, Spanish and Chinese.

The IRS is also making it easier for qualifying taxpayers to get help preparing their returns this year. For example, taxpayers who make $57,000 or less can choose from 15 free, brand-name tax preparation software packages offered through the IRS Free File program.

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