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In a time of instability and incredible economic pressures, tax credits can help eligible families make ends meet.
Today, on Earned Income Tax Credit (EITC) Awareness Day, we want to ensure that workers are aware of important federal and state tax credits, worth up to thousands of dollars, for which they could be eligible.
For 2011, families may be eligible for a number of federal tax credits, including:
- Earned Income Tax Credit, which helps provide a wage supplement for low and moderate-income families (those earning less than $49,078 annually). This credit is worth up to $5,751, and is refundable.
- Child Tax Credit, designed to help families offset some of the costs of raising children. This credit is worth up to $1,000 per child. Families who owe little or no income tax can receive some or all of this credit as a refund if they earned at least $3,000 in 2011.
- Child and Dependent Care Tax Credit, designed to offset some of the child or dependent care costs that families incur in order to work. This credit is worth up to $2,100, though the amount that can be claimed is limited by a family’s federal income tax liability.
Some states offer their own credits as well: Twenty-eight states, including the District of Columbia, offer child and dependent care tax provisions, 24 states offer earned income tax credits and three states offer child tax credits.
Families need to claim these tax credits when they file their 2011 tax returns. Most families will be receiving the tax documents they need to file their taxesin the next few weeks, making this an especially critical time for tax credits outreach. Here are some ways you can get the word out to families about tax credits:
We also would like to invite you to join our outreach campaign as an NWLC Community Partner.As a community partner, you will receive:
- Customized resources that make it easy to spread the word about tax credits to families in your community.
- Technical assistance on issues relating to tax credits and outreach activities.
- Acknowledgement of your partnership on our website.
Thanks for helping to spread the word about tax credits to the families in your community.
Best, |