Many Residents Missing Out On Federal Tax Credits
It is estimated that close to 85 percent of eligible area residents are not claiming millions of dollars in refundable tax credits that reduce or eliminate taxes for low-income earners. Earned Income Tax Credit (EITC) is the largest federal cash assistance program for low-income, working taxpayers and helps to lift more families out of poverty than any other government program. Eligible taxpayers who earned less than $39,783 in 2007 can receive a refund of up to $4,716.
Volunteer Income Tax Assistance (VITA), presented in partnership with the IRS, the United Way of Southern Nevada and a host of community partners, including the city of Las Vegas, will assist those earning less than $40,000 in 2007 with free tax preparation to take advantage of Earned Income Tax Credits.
Now through April 15, Volunteer Income Tax Assistance is available at sites around the community. Residents can call 2-1-1 for information on the free tax preparation sites. An IRS hotline and Web page are also available to answer questions about EITC at (800) 829-1040 or at www.irs.gov/eitc .
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