Hertsel Shadian, Attorney at Law, LLC

IRS Urges Workers to Check Eligibility for the Earned Income Tax Credit

4 February 2011

According to the Internal Revenue Service, nationwide last year, over 26 million eligible taxpayers received nearly $59 billion total from the Earned Income Tax Credit (EITC). Yet, the IRS estimates that one out of five eligible taxpayers still could be missing the credit. This filing season, the IRS again is encouraging all eligible taxpayers to claim this benefit.

Those who made $48,362 or less from wages, self-employment or farm income, should check to see if they qualify for the EITC. The IRS has tools to make it is easy to check with their “EITC Assistant.” Once taxpayers know that they do qualify for the EITC, they must file a tax return and claim the credit to get it. The IRS also has several free options for EITC eligible taxpayers to get help to file a federal tax return and claim the credit.

While there are many factors that affect eligibility for the credit and the amount of EITC that qualified taxpayers may take home, it can be a valuable tool to lower their taxes or to claim a refund. A couple with three or more children could get up to $5,666. If a person qualifies, he or she must file a return and claim the credit.

For more information, taxpayers should contact their professional tax preparer or tax advisor, or see www.irs.gov/eitc on the official IRS website.  Also, if you know someone that might benefit from this information, please forward this article to them.