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Friday, January 31, 2014

Do You Qualify for the Earned Income Tax Credit? How to Find Out

Millions of dollars go unclaimed each year by Washington residents eligible to receive the Earned Income Tax Credit because they don’t file a tax return or simply don’t know they are eligible.

“Last year, the average Earned Income Tax Credit refund was more than $2,100,” said Gov. Jay Inslee. “Many Washington households do not know they are eligible or know how to claim the credit. By raising awareness and offering free resources at tax preparation centers around the state, we’re helping families and individuals, and giving a boost to our state’s economy.”
 
Eligibility Requirements
The eligibility requirements are:
  •  With three or more qualifying children, income less than $46,227 or $51,567 if married filing jointly. Maximum refund: 6,044.
  • With two qualifying children, income less than $43,038 or $48,378 if married filing jointly. Maximum refund: $5,372.
  • With one qualifying child, income less than $37,870 or $43,210 married filing jointly. Maximum refund: $3,250.
  • With no children, income less than $14,340 or $19,680 married filing jointly. Maximum refund: $487.
Free Tax Preparation Services
Free tax preparation services are available to low- and moderate-income families from January 31 through April 15. By telephone, Washington Information Network 211 will provide a directory of site locations throughout the state – just dial 2-1-1 and ask for “free tax preparation,” and an operator will provide you with free tax site locations and hours in your area. Or, go to http://irs.treasury.gov/freetaxprep to find free tax preparation service near you.
  
Learn more about EITC from the Internal Revenue Service.