Who’s eligible for the EITC?

Workers may get a larger tax refund this year because of the EITC or Earned Income Tax Credit. But to get it, you must file a tax return and claim it.

Unite States 1040 tax form with money on desk

Friday marks the 12th anniversary of EITC Awareness Day, a nationwide effort to increase awareness about EITC and free tax preparation sites. This year, IRS is promoting EITC and providing information on other refundable tax credits that you may be eligible for. This includes the American Opportunity Tax Credit, the Child Tax Credit and the Additional Child Tax Credit.

In 2016, 26 million workers received more than $65.6 billion in EITC refunds. Of that amount, $1.7 billion went to Tennessee workers, with 657,000 workers receiving an average EITC refund of $2,546.

If you worked last year and had income of less than $54,000, check out your eligibility for EITC. This credit can mean up to a $6,318 refund when you file a return if you have qualifying children. Workers without a qualifying child could be eligible for a smaller credit up to $510.

Why is it important to have an EITC Awareness Day each year?

One-third of the EITC population changes each year.

The IRS estimates that four out of five workers claim the EITC they earned. This leaves billions of dollars on the table each year. United Way of Williamson County wants to get the word out to those who are eligible to file a tax return — even if they don’t owe any tax — to claim the EITC.

It’s money workers can use for groceries, rent, utilities and other bills.

EITC is complex. It varies by income, family size and your filing status. To be eligible, you must have earned income or certain disability income. This means you must have income from working for someone or working for yourself.

Our VITA (Volunteer Income Tax Assistance) Free Tax Prep volunteers – trained by the Internal Revenue Service – ask you the needed questions to find out if you qualify for the EITC and other refundable tax credits.

These volunteers also prepare and e-file your tax return at no cost to you.

Let us help you get it and get it right.

Bring the following to make sure our volunteers get you the right amount of credit you deserve:

  • A valid driver’s license or other photo id card
  • Social security cards, a social security number verification letter for all persons listed on the return
  • Birth dates for all persons listed on return
  • All income statements: Forms W-2 and 1099, Social Security, unemployment, and other statements, such as pensions, stocks, interest and any documents showing taxes withheld
  • All records of expenses, such as tuition, mortgage interest, or real estate taxes
  • Copies of last year’s state and federal tax returns, if you have
  • Bank routing numbers and account numbers to direct deposit any refund
  • Dependent child care information: name and address of who you paid and either the caretaker’s SSN or other tax identification number
  • If you purchased coverage through the Health Insurance MarketplaceForm 1095-AHealth Insurance Marketplace Statement
  • Both spouses to sign forms to e-file a joint tax return

To see the full list of VITA Free Tax Prep sites in Williamson County and schedule your appointment, visit uwwc.org/vita/.

Jan 23, 2018 | Financial Stability