IRS recently started promoting, for this filing season, the Earned Income Tax Credit (EITC), by launching an outreach campaign, targeting millions of Americans who earned $50,270 or less, and who thus may qualify.
IRS thinks one third of the eligible population changes each year, relative to their financial, marital and parental status. Although an estimated four out of five eligible workers and families get the credit, one in five still miss it, because they don’t claim it when filing.
IRS says that last year, the average EITC was in the neighborhood of $2,200, and for tax year 2011, over 27 million eligible workers and families received nearly $62 billion in EITC!
Go to www.irs.gov/eitc for more info.