United Way, IRS celebrate Earned Income Tax Credit Awareness
MACON, Georgia (41NBC/WMGT) –The IRS expects more than 150 million tax returns for 2019. Therefore, the United Way of Central Georgia wants residents to know all their options when filing.
United Way partnered with the IRS to discuss earned income tax.
The EITC is a federal tax credit for low to moderate income working families and individuals. Designed to offset federal payroll and income taxes, and raise living standards, a taxpayer must have earnings from a job to qualify for the credit.
“Our volunteers are all trained by the IRS,” said Tammie Collins, the executive VP of United Way of Central Georgia. “ And specifically trained to help people identify the credits that they may be eligible for. The economic impact is pretty significant in this as well. If you take everything into consideration in terms of the refunds that came back the savings everything like that. We’re well over 2.7 million on that.”
Benefits of EITC
Researchers have found that the EITC not only reduces poverty but also:
- improves infant and maternal health
- improves children’s school performance
- increases college enrollment
- improves Social Security retirement benefits.
Leave a Reply