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April 2, 2014
Federal and state tax credits for low- and moderate-income workers can help them keep more of their income to support their families. Research shows that there is a close link between family income and later outcomes, and increasing a family’s income by $3,000 annually over the course of several years can boost children’s achievement significantly.
Please help spread the word in your community about available tax resources, including free tax preparation and filing assistance.
The Earned Income Tax Credit (EITC) is a refundable credit for working low- and moderate-income individuals and couples, particularly those with children. The Tax Year 2013 maximum credit is $6,044.
The Child Tax Credit (CTC) is a tax credit that can increase the tax refund for families with children under age 17. For Tax Year 2013, the maximum credit is $1,000 per qualifying child.
For free personalized tax help, please visit irs.treasury.gov/freetaxprep to find a Volunteer Income Tax Assistance (VITA) site near you.
To file tax returns online for free, please visit myfreetaxes.com/NCTC.