Local leaders urge folks to take advantage of Earned Income Tax Credit Day
DELMARVA – Friday is Earned Income Tax Credit Awareness Day. It’s something that local leaders say helps families across the nation save large sums of money every tax season. “We reward people who do the right thing by having a job and earning money. They don’t earn that much, so they have all sorts of needs,” said Maryland Comptroller Peter Franchot.
Earned income tax credit helps low-income workers and families get a tax break. If you qualify, you can use the credit to reduce the taxes you owe and maybe even increase your refund. Families that make a combine income of $57,000 or less a year are among those that qualify in Maryland and Delaware.
Local leaders say amid the COVID-19 pandemic, something like the earned income tax credit could be a life-saver for many families. “We have seen our neighbors, our families, and our friends facing hardships like they’ve never seen before. We need every resource,” said U.S. Representative Lisa Blunt-Rochester.
Comptroller Franchot says pandemic aside, this tool has been a reliable source of relief for years. “It helps them take advantage of the earned income tax credit, which is probably the most successful weapon used against poverty in the history of the country,” said Comptroller Franchot.
Rep. Blunt-Rochester adds that she feels more people need to know about it. “The latest estimates say that 20% of families who are eligible are not taking advantage of it,” said Rep. Blunt-Rochester.
To find out if you qualify for earned income tax credit, click here.