Assemblymember Jim Brennan
Assemblymember
Jim
Brennan
Reports to the People
Winter 2011

416 Seventh Avenue, Brooklyn, NY 11215 • 718-788-7221 • 1414 Cortelyou Road, Brooklyn, NY 11226 &bul; 718-940-0641
Room 842, LOB, Albany, NY 12248 • 518-455-5377 • E-mail: brennanj@assembly.state.ny.us
Claim Federal and State Earned Income Tax Credits

Many working New Yorkers are eligible for an Earned Income Tax Credit (EITC) but don’t know it. The Earned Income Tax Credit puts more disposable income into working people’s pockets. It is important that you check to see if you are eligible. If you were previously eligible but did not apply, you can still file for the past three years.

These credits are available to full or part-time working people—even those who don’t have to pay income taxes. You must file a federal tax return even if you don’t owe any taxes in order to qualify for this credit. To get more information on whether you qualify, visit http://www.irs.gov/individuals/article/0,,id=130102,00.html.

If you qualify for the federal EITC, you are probably also eligible for New York State and New York City earned income credits as well. File your federal return first and then file a NYS Form IT-215 along with a NYS tax return.

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The State Division of the Budget currently estimates the deficit for this coming year to be $9 billion, which may grow.
The State of New York is facing big budget shortfalls because about $5.5 billion in Federal stimulus funds now incorporated into the State’s budget are expiring in June. The State Division of the Budget currently estimates the deficit for this coming year to be $9 billion, which may grow. The income-tax adjustment for wealthy households enacted in 2009 expires on December 31st; this will reduce revenue by $1 billion in the upcoming budget and a total of $5 billion by 2012-2013.

I and my colleagues have written Governor Cuomo urging him to preserve this tax revenue. The impacts of balancing the budget just with cuts could be very severe, with devastating reductions of billions of dollars in health care, education, public safety, transportation, and other vital services in the City of New York. Governor Cuomo gives the Legislature the budget on February 1 and I will be keeping you informed as events unfold.



The 2011 New York City Parking Calendar is now available.
Click here to view and print a copy!

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