It’s tax season, and that means Philadelphia residents can take advantage of the Federal Earned Income Tax Credit (EITC). Every year, more and more hard-working individuals and families get back the money they’ve earned through this federal credit.
But many residents are still missing out. Why take a little time to find out if you qualify? We’re counting down six good reasons:
6. $0: On January 21, five tax preparation sites started providing Philadelphia residents with professional federal and state tax preparation services at $0 cost. IRS-certified professionals are helping eligible individuals maximize their EITC refund, and it’s FREE. Before April 15, more than a dozen other free tax prep sites will open across the city. You can text the word “FILE” to 99000 to find a tax prep site near you.
5. $6,431: This is the maximum a person can receive with EITC for their 2018 taxes. Maximum benefits depend on filing status (single, head of household, widowed or married filing jointly), and the number of qualifying children (including 0). Whether you get a few hundred dollars, or thousands, every dollar helps!
4. $10,000: Residents eligible for the EITC can file for 2018, but also file or amend 2015, 2016 and 2017 returns. Say you receive $2,500 back per year, which is the average EITC refund in Philly, you could get back as much as $10,000 at one time.
3. $0 (yes, $0 again!): NONE of your EITC refund is considered income. No matter how much money you get back with EITC, it won’t affect your eligibility for government assistance programs.
2. $100: You could win $100 by sharing your EITC story with others. If you’ve had a positive experience filing EITC, tell us about it. Your story enters you in a drawing for a chance to win $100, and may help inspire others to take advantage of EITC.
1. $131 million: While a growing number of Philadelphians claim and receive their EITC, over 50,000 eligible residents never applied last year. That means around $131 million of unclaimed credit was left on the table. If you’ve claimed EITC in the past, don’t forget to ask for your hard-earned credit this year. If you’ve been missing out, don’t let EITC pass you by again. Visit YouEarnedItPhilly.com to learn more.
