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EITC Awareness Day: Many Workers May Not Know of Significant IRS Benefit

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The Internal Revenue Service is partnering with community-based organizations across the country to promote Earned Income Tax Credit Awareness Day, an effort to alert millions of low and moderate-income workers who may be missing out on a significant tax credit that can be as much as $6,000. Millions of workers who earned $52,427 or less last year may qualify for EITC for the first time in 2015, making awareness of the credit critical. About a third of the people eligible for EITC fluctuate each year based on changes to their marital, parental and financial status. All across the United States, local officials and community organizations are holding events highlighting this key benefit. “About four out of five eligible workers and families get the credit they earned. That leaves millions missing EITC every year,” said IRS Commissioner John Koskinen. “It’s an important credit and one of the government’s best tools to fight poverty.” Last year, almost 28 million eligible workers and families received $66 billion total in EITC, with an average EITC amount of $2,400. The IRS website is a valuable first stop to help taxpayers get it right this filing season, from information on claiming the EITC, to learning about …

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