Low income families urged to apply for EITC
20 percent of eligible Delawareans miss out on a vital tax credit each year.
Congressman Carney says it's called the Earned Income Tax Credit (EITC) that could save them thousands.
"About 70,000 Delaware taxpayers took advantage of it last year for an average refund of about $2,000, so it's real money, it's money that assists and tends of millions of dollars go back into the local economy," explains Carney.
Carney explains why some may miss out on the credit.
"It's a tax credit that's not very well understand because filing your taxes generally is not well understood, and the EITC campaign actually involves encouraging and making available free tax preparation services for Delawareans, that's part of it, as well as financial literacy courses," says Carney.
But you can earn up to nearly $6,000. Families with three or more children, who earn less than $45,000 a year are eligible for the credit on the federal taxes.
Copyright © Jul 31, 2014, WDEL/Delmarva Broadcasting Company. All Rights Reserved.
Advanced permission from Delmarva Broadcasting Company required for publication or rebroadcast.