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Politics & Government

Earned Income Tax Credit Can Generate Hefty Refunds

A campaign is underway to raise awareness of the tax credit for low- and moderate-ncome families.

With tax season on the horizon, local officials and community groups began an annual effort today to raise awareness of the Earned Income Tax Credit that can generate hefty refunds for low- and moderate-income families with children.

The credit "is a vastly under-utilized benefit, with up to 20 percent of eligible taxpayers leaving $300 million in credits left on the table," said Elise Buik, president and CEO of United Way of Greater Los Angeles. "Costs for basic needs like housing and food are on the rise, and wage growth is virtually non-existent.

"Last year our goal was to increase participation in EITC by 10 percent, and we succeeded, helping residents claim over $38 million in total refunds," Buik said. "This year, we want to again increase participation in the program by another 10 percent, which means almost 50,000 residents would get free tax assistance and help to claim money that is rightfully theirs, and back into our local economy."

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According to the United Way and other groups taking part in the effort, the Earned Income Tax Credit provides about $2 billion in refunds to qualified
taxpayers nationwide. Families who earn less than $49,078 and have three or
more qualifying children could receive refunds of up to $5,751, while families
earning less than $46,044 with two children can receive up to $5,112.

People who need information about the credit or need help with their
taxes can get more information by calling (800) 906-9887 or visiting the EITC
Partnership's website at www.FreeTaxHelpLA.com

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