EARNED INCOME TAX CREDIT
The Earned Income Tax Credit (EITC) is a refundable
federal income tax credit for low income working individuals and
families. If you earned less that $37,000 in 2005, you may qualify
for the EITC. Eligible individuals or families with children may
receive a tax refund up to $4,400!
Qualifications for the EITC refund vary depending
upon your family size, filing status and income. Taxpayers must
have worked full or part time and have earned income. To qualify
a taxpayer must file a federal tax return even if you did not
earn enough money to be required to file a return.
You can check to see if you might qualify for the
EITC by going to the IRS website and using the EITC Assistant.
Go to www.irs.gov and search
for EITC Assistant or click here for more information: http://apps.irs.gov/app/eitc2005/SetLanguage.do?lang=en
You may also be able to file your federal taxes for
free through the IRS Free File Alliance. In mid January, you can
see if you are eligible to file your federal taxes online for
free. For more information click here: http://www.irs.gov/efile/article/0,,id=118986,00.html
If you'd like more information about the Virginia
CASH Campaign or opportunities for free income tax preparation
services, you can contact Carolyn Spohrer at the Virginia Community
Action Partnership at 804-644-0417.