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.