Assemblymember Cahill Urges Families to Claim Earned Income Tax Credit

State & Federal credits offer thousands of dollars for eligible working families

March 30, 2010

Kingston – Hundreds of thousands of New York State residents may be missing out on thousands of dollars in tax refunds according to Assemblymember Kevin Cahill (D-Ulster, Dutchess). Each year, an estimated 300,000 eligible New York households – a whopping 20 percent of eligible taxpayers – never claim the EITC.

“The Earned Income Tax Credit (EITC) is often overlooked and undervalued, which is why I’m encouraging hardworking Hudson Valley families to claim it before the deadline to file 2009 taxes on April 15th,” said Assemblymember Cahill. “This is a tax credit that offers significant savings for eligible families. The EITC will give working families struggling in our tough economy some much needed relief.”

The EITC was instituted to offset Social Security taxes for low-income workers. The Assembly championed the establishment of a state EITC, and in 2002 increased it to 30 percent of the federal credit. The state credit can bring the total state and federal savings up to $7,354 for eligible families. Taxpayers with adjusted gross incomes below the following limits may be eligible for the EITC:

• $43,279 ($48,279 married filing jointly) with three or more qualifying children;
• $40,295 ($45,295 married filing jointly) with two qualifying children;
• $35,463 ($40,463 married filing jointly) with one qualifying child; and
• $13,440 ($18,440 married filing jointly) with no qualifying children.

“These tax credits help pay for all the little things that add up, and it is crucial we do all we can to help struggling families stretch budgets and make them aware of their eligibility,” said Assemblymember Cahill. “This tax credit not only helps families pay bills, buy clothing and maintain their homes, but it provides a boost to local economies during tax refund season.”

To learn more about the federal and state EITC and eligibility, visit the IRS Web site at www.irs.gov and the New York state site at www.tax.state.ny.us. If you need assistance with filing, VITA (Volunteer Income Tax Assistance) is a free, IRS-sponsored program to help low and middle-income families have their taxes prepared, filed and will ensure filers receive their full tax credits. Several area libraries are hosting VITA until April 15 but appointments are necessary. Call ahead to schedule a time:

• Kingston Library, 802-7190
• Stone Ridge Library, 802-7190
• Poughkeepsie’s Adriance Memorial Library, 485-3445.

For more information on VITA visit
www.otda.state.ny.us/main/reform/vita.htm.

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