FINCH: TAX-SAVING OPPORTUNITIES – CLAIM YOUR EARNED INCOME TAX CREDIT

Posted by on January 24, 2012

Assemblyman Gary D. Finch (R,C,I – Springport) is reminding residents to take advantage of the Earned Income Tax Credit, which is a refundable credit for people who work, but do not earn high incomes.  To find out if you are eligible, go to www.irs.gov/eitc. 

 While many people have taken advantage of the Earned Income Tax Credit, millions of taxpayers still do not claim their EITC.  Those earning under $49,078 may be eligible for up to $5,751 through the Earned Income Tax Credit. Millions of workers could qualify for the first time this year because their earnings dropped, or their marital or parental status changed in 2011. Many more may already qualify but don’t know it, such as childless workers and grandparents raising their grandchildren.

 Many may also have the opportunity to file their federal tax forms electronically, free of charge.  To find out more about IRS Free File, go to www.irs.gov/efile, and click “Free File” on the left column.

“There are many opportunities to save and cut costs when filing taxes, and many do not take advantage of these tax breaks,” said Finch.  “I’d like to encourage all New Yorkers who think that they may be eligible to look into the Earned Income Tax Credit and Free File service, as well as any other possible credits that may be available to them.”

For more information, you may visit www.irs.gov.

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