Earned Income Tax Credit
The Earned Income Tax Credit (EITC), also called Earned Income Credit (EIC), is a refundable credit that can offer low to moderate income families a boost at tax time. If you file a federal income tax return and you have earned income, you could be eligible for up to $6,044! To see if you are eligible for this credit, use the EITC Assistant.
The Earned Income Tax Credit can be just the ticket to making ends meet in 2014. With this credit you could:
- Pay for needed repairs to your car
- Pay down loans
- Establish emergency savings
- Save for property taxes and vacations
- Start College savings for your child
- Take a class yourself
Did you know that the average earned income tax credit is enough money to feed a child for a year? Don't leave money on the table this tax season. File and get your credits. If you had earned income in prior years, but did not file, check out the free tax resources at www.vbgov.com/eitc and file your taxes up to three years back!
Make plans to file early at EITC DAY at Human Services January 31, 2014 9:00 am - 4:00 pm. In addition to tax preparation there will be Certified Application Counselors to help you navigate www.healthcare.gov and explore your health insurance options. Certified Financial Planners will be available to help you make the best use of your tax refund and credit counselors on site to review your annualcredit report as well.