The Earned Income Tax Credit, EITC or EIC, is a benefit for working people with low to moderate income.
What is Awareness Day? Community organizations, elected officials, state and local governments, schools, employers, and other interested parties partner in a national effort to increase awareness of refundable credits by shining a large spotlight on them from multiple media sources.
Media coverage helps reach the broadest possible range of eligible taxpayers, including underserved populations and newly eligible taxpayers.
Why is Awareness Important? IRS estimates four of five eligible taxpayers claim and get the EITC. Best of all, EITC combined with the CTC/ACTC is a financial boost for working people and your local economy. EITC and the CTC greatly reduce poverty for working families. These working family credits lifted an estimated 9.4 million people out of poverty, including 5 million or more than half of them children.
Check out the IRS’s EITC page for more information on who qualifies and how to claim this credit.
Source: Source: Chuck Marr, Chye-Ching Huang, Arloc Sherman and Brandon DeBot, CBPP-EITC and Child Tax Credit Promote Work, Reduce Poverty, and support children’s Development, Research finds, October 1, 2015.