Are You or Someone You Know Eligible to Claim Tax Credits of Up to $5,891?
Each year, thousands of Central Floridians claim the federal Earned Income Tax Credit (EITC), which puts dollars back in to the hands of low- to moderate-income families and individuals.
For those who qualify, tax credits of more than $5,800 are available for tax year 2012. And the money is easy to claim.
Throughout tax season, dozens of free tax preparation sites will be available across the region to help people file their returns. Many families use the extra dollars to reduce debt, learn new job skills, increase savings or build financial stability in other ways.
Even if you missed your opportunity to benefit for tax year 2011, the good news is that the EITC can be claimed retroactively for up to three years.
What is the Prosperity Campaign of Central Florida?
United Way's Prosperity Campaign of Central Florida promotes financial stability for local families. One key way of doing this is through the EITC, which is credited with lifting more children out of poverty than any other federal program. At a time when many families are struggling to make ends meet, EITC dollars can be used to reduce debt, improve job skills, build savings or take other steps to improve financial stability, which is one of United Way's primary focus areas.
Did You Know?
EITC also provides a significant boost to the local economy. Last year alone, refunds worth $551 million were distributed in Central Florida, where many dollars were spent on food, housing, car repairs, home improvements and other needs.
Are you eligible?
Among other qualifying factors, you must have:
- Earned income in 2012
- A valid Social Security number
- No more than $3,200 in investment income
- Joint tax-filing status, if married
- U.S. citizenship or resident alien status for the past year (in most cases)
Income guidelines for tax year 2012:
- $13,980 with no qualifying children
- $36,920 with one qualifying child
- $41,952 with two qualifying children
- $45,060 with three or more qualifying children
Married couples filing jointly:
- $19,190 with no qualifying children
- $42,130 with one qualifying child
- $47,162 with two qualifying children
- $50,270 with three or more qualifying children
Maximum refunds for tax year 2012:
- $475 with no qualifying children
- $3,169 with one qualifying child
- $5,236 with two qualifying children
- $5,891 with three or more qualifying children
Want to learn more?
Click here for more information or dial 2-1-1 to speak with knowledgeable staff at the United Way 2-1-1
Pine Hills Project