“The government has significantly curtailed welfare in the United States, and minimum wage is far too often the norm for many hard working unskilled Americans. The government has provided a financial windfall or tax credit as it is called to make up for the huge disparity between low-income wage earners and the high cost of living in the United States. The problem is, many pople dont understand how they can get money back on their taxes they never paid in the first place, so many still do not benefit from the earned income tax credit and millions of dollars sit in the federal government coffers, unused. ”
Read the rest of this article to find out how you can claim your Earned Income Tax Credit (EITC).
What Is The EITC & How To Claim It
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What Is the EITC?
The Earned Income Tax Credit (EITC) is a refundable federal income tax credit for low-income working individuals and families. When the EITC exceeds the amount of taxes owed, it results in a tax refund to those who claim and qualify for the credit.
Does It Affect My Welfare Benefits?
The EITC has no effect on certain welfare benefits. In most cases, EITC payments will not be used to determine eligibility for Medicaid, Supplemental Security Income (SSI), food stamps, low-income housing or most Temporary Assistance for Needy Families (TANF) payments.
How To Find Out If You Qualify for EITC This Year
To qualify, you must meet certain requirements and file a tax return, even if they did not earn enough money to be obligated to file a tax return.
You can find out if you are eligible for the Earned Income Tax Credit (EITC) by answering some questions and providing basic income information using the EITC Assistant.
The Assistant is available in English and Spanish.
Get more tax information and help at www.taxassistonline.com
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