At a time when thousands of Central Floridians are struggling to pay for rent, food, utilities and other basic needs, Heart of Florida United Way (HFUW) is helping qualified residents claim the Earned Income Tax Credit (EITC). Recognized for lifting more children out of poverty than any other federal program, EITC refunds helped provide a significant boost to the Central Florida economy in 2011 – with more than $551 million in funds distributed throughout Orange, Osceola and Seminole counties.
“For the thousands of financially insecure families in Central Florida, tax refunds from the EITC program can help them keep their homes, feed their children and continue to be productive members of our community,” said Robert H. (Bob) Brown, HFUW president and CEO. “And since most EITC funds are spent close to home, our local economy benefits as well.”
Credits range from $475 to $5,891 for 2012. To ensure that residents receive their full amounts, more than 30 free tax preparation sites will be available from Feb. 1 to April 17 through a partnership with the IRS Volunteer Income Tax Assistance (VITA) program.
To qualify for EITC, recipients must have received wages at some point last year, with both earned income and adjusted gross income less than:
- $45,060 ($50,270 married filing jointly) with three or more qualifying children
- $41,952 ($47,162 married filing jointly) with two qualifying children
- $36,920 ($42,130 married filing jointly) with one qualifying child
- $13,980 ($19,190 married filing jointly) with no qualifying children
“Many Central Floridians don’t realize they’re eligible, including those who didn’t qualify before but are now working part-time or in lower-paying jobs,” said Mark Batchelor, manager for financial stability outreach at HFUW. “We encourage residents to check into EITC, because free money is on the table – you just need to claim it.”
In addition to providing a significant boost to the local economy, more than $2.5 billion in EITC refunds has been claimed regionally over the past seven years. However, the Internal Revenue Service estimates that one in four qualified Central Floridians failed to claim EITC due to lack of awareness.
Recognizing the tremendous impact EITC dollars have on communities, the JPMorgan Chase Foundation, The Wells Fargo Foundation and The Wal-Mart Foundation are providing additional support by sponsoring United Way’s Prosperity Campaign of Central Florida, which promotes EITC and other resources that help families improve their financial stability.
For more information about EITC, visit www.hfuw.org, dial 2-1-1 or visit www.irs.gov.
