Red Lake Nation News - Babaamaajimowinan (Telling of news in different places)

IRS Encourages Tribal Communities To Check Out The Earned Income Tax Credit

 

February 21, 2017



WASHINGTON — The Internal Revenue Service urges Native American taxpayers to look into the Earned Income Tax Credit (EITC) and correctly claim it if they qualify. EITC and the Child Tax Credit (CTC) greatly reduce poverty for working families.

The EITC is a federal income tax credit for working people who don’t earn a lot ($53,505 or less for 2016) and meet certain eligibility requirements. Because it’s a refundable credit, those who qualify and claim the credit could pay less federal tax, pay no tax or even get a tax refund. EITC can mean up to a $6,269 refund for working families with qualifying children. Workers without a qualifying child could be eligible for a smaller credit up to $506. On average, EITC adds $2,400 to refunds.

http://www.yankton.net/life/article_83e68d8a-f7de-11e6-abb1-b747f929bda1.html

 

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