MONROE - Did you know the "Earned Income Tax Credit (EITC)" program can make life a little easier for workers struggling to make ends meet in a tough economy? Credits ranging from a few dollars to more than $5,600 may be available. While the credit helps many, thousands of eligible taxpayers fail to claim it every year.
People who earned $48,362 or less from wages, self-employment or farming in 2010 should check to see if they qualify. "People move into and out of EITC eligibility based on changes in their earnings, their parental status or their marital status," said Judith Bartfeld, UW- Extension food security research and policy specialist and professor at UW-Madison.
Eligible taxpayers can get their EITC only if they file federal income tax returns, even if they are not otherwise required to file, and specifically claim the credit. The IRS estimates that one in five eligible workers does not claim the EITC, and thus misses out on the valuable credits.
Cooperative Extension family living specialists have developed a website to offer people more information about tax credits, including eligibility at http://fyi.uwex.edu/eitc/. Extension educators do not prepare taxes, but they provide access to resources and information for Wisconsin residents.
Taxpayers can get free help determining their eligibility and claiming the credit in Wisconsin at a Volunteer Income Tax Assistance (VITA) or Tax Credit for the Elderly (TCE) site that provides service to low- and middle-income tax filers.
For more information, visit the IRS website at http://www.eitc.irs.gov/central/main/
To learn more about keeping managing day-to-day expenses and living on a budget, contact Mary Knellwolf, Family Living Educator at the Lafayette County UW- Extension office at (608)776-4820. To find a VITA site, visit: fyi.uwex.edu/eitc/vita-sites. To find a TCE site, visit: http://www.aarp.org/money/taxaide
People who earned $48,362 or less from wages, self-employment or farming in 2010 should check to see if they qualify. "People move into and out of EITC eligibility based on changes in their earnings, their parental status or their marital status," said Judith Bartfeld, UW- Extension food security research and policy specialist and professor at UW-Madison.
Eligible taxpayers can get their EITC only if they file federal income tax returns, even if they are not otherwise required to file, and specifically claim the credit. The IRS estimates that one in five eligible workers does not claim the EITC, and thus misses out on the valuable credits.
Cooperative Extension family living specialists have developed a website to offer people more information about tax credits, including eligibility at http://fyi.uwex.edu/eitc/. Extension educators do not prepare taxes, but they provide access to resources and information for Wisconsin residents.
Taxpayers can get free help determining their eligibility and claiming the credit in Wisconsin at a Volunteer Income Tax Assistance (VITA) or Tax Credit for the Elderly (TCE) site that provides service to low- and middle-income tax filers.
For more information, visit the IRS website at http://www.eitc.irs.gov/central/main/
To learn more about keeping managing day-to-day expenses and living on a budget, contact Mary Knellwolf, Family Living Educator at the Lafayette County UW- Extension office at (608)776-4820. To find a VITA site, visit: fyi.uwex.edu/eitc/vita-sites. To find a TCE site, visit: http://www.aarp.org/money/taxaide
