WORKERS MAY QUALIFY FOR FEDERAL TAX CREDIT
WIN211 wants to make life a little easier for workers by alerting them about a special tax credit that can put money in their pockets.
With the exception of some who receive certain disability income, you must work for wages, or run a business or a farm to qualify for EITC. Workers who made less than $50,270 should see if they qualify for EITC at www.irs.gov/eitc by using the EITC Assistant, an interactive tool that shows who qualifies for the credit and the amount of the credit. Those who qualify for the credit can get free return preparation through volunteer sites. IRS certified volunteers will prepare your return and determine if you qualify for the EITC and other refundable credits. Find a location for free tax return preparation near you at www.irs.gov/Individuals/Free-Tax-Return-Preparation-for-You-by-Volunteers or locate a volunteer site through your community’s 211 number.
Join the millions who already received the EITC they earned. Last year, the credit returned close to $62 billion dollars to over 27 million workers. [You may want to localize this statistic by using your state’s information] EITC varies by income, family size and filing status. It can mean up to $475 in EITC for people without children, and up to $5,891 for those with three or more qualifying children. The average EITC amount last year was $2,200.
Workers who qualify for EITC must file federal income tax returns-even if their income is below the filing requirement-and specifically claim the credit to get it. You earned it, now file, claim it and get it.
But, make sure you get the right amount of credit due you. If you have someone prepare your return, make sure to bring the following to your preparer:
A valid driver’s license or other photo id card
Social security cards, a Social Security number (SSN) verification letter or the Individual Taxpayer Identifying Number (ITIN) for all persons listed on the return
Birth dates for all persons listed on return
All income statements: Forms W-2 and 1099, Social Security, unemployment, and other statements, such as pensions, stocks, interest and any documents showing taxes withheld. If you run a business or farm, records of all income earned.
All records of expenses, such as tuition, mortgage interest or real estate taxes. And, if you run a business or farm, records of all related expenses.
Copies of last year’s state and federal tax returns, if available
Bank routing numbers and account numbers to direct deposit any refund
Dependent child care information: name and address of who you paid and either the caretaker’s SSN or other tax identification number
Both spouses to sign forms to e-file (electronically file) a joint tax return
Income Eligibility Guidelines – adjusted gross income (AGI) must be less than:
$45,060 or ($50,270 if married filing jointly) with 3 or more qualifying children.
$41,952 or ($47,162 if married filing jointly) with 2 qualifying children.
$36,920 or ($42,130 if married filing jointly) with 1 qualifying child.
$13,980 or ($19,190 if married filing jointly) with NO qualifying children.
Tax Year 2012 maximum EITC credit:
$5,891 with three or more qualifying children
$5,236 with two qualifying children
$3,169 with one qualifying child
$475 with no qualifying children
