Earned Income Tax Credit Awareness Day is this Friday and the IRS is asking for help in spreading the message about the tax credit.
This year the IRS wants to increase eligibility awareness of other refundable credits that many miss or don’t get right. Along with the earned income tax credit (EITC), the IRS wants to include the child tax credit and the refundable part, the additional child tax credit (CTC/ACTC), and the American opportunity tax credit (AOTC).
What is the Earned Income Tax Credit?
The Earned Income Tax Credit, EITC or EIC, is a benefit for working people with low to moderate income. To qualify, individuals must meet certain requirements and file a tax return, even if they do not owe any tax or are not required to file. EITC reduces the amount of tax you owe and may give you a refund.
Last year, more than 27 million eligible workers and families received more than $67 billion in EITC; with an average EITC amount of about $2,455.
How can you help?
Join the IRS and the Washington State Department of Financial Institutions in getting the word out to those who qualify but don't file a tax return or miss the credits they deserve.
The Partner's Outreach Toolkit from the IRS has ideas and all the resources you need to get the word out.
Ideas include: posting information to your social media , posting fliers around your building, writing a brief newsletter article or email for your employees, sending out a press release, and linking to PSAs from the IRS.