Today is National Earned Income Tax Credit Awareness Day. The IRS dedicated today to promoting the EITC, which provides refunds up to more than $6,000 to low-wage workers.
Last year, 130,000 households in Idaho claimed the EITC, receiving more than $304 million in refunds, according to IRS data. The average refund was $2,341. That’s money families can use to fix cars and roofs, put food on the table, or pay the electric bill. Considering this winter weather’s harsh effects, these refunds are a welcomed sight for many of our friends and neighbors across the valley and state.
Nationwide, more than 26 million workers claimed the EITC last year, receiving more than $65 billion.
The EITC’s goal is simple: to help workers keep more of the money they earned. According to the IRS, about 4 of 5 eligible taxpayers nationwide claim the EITC; that leaves a whopping 20 percent of people who don’t claim the EITC, missing out on potential life-changing refund money.
In 2015, we advocated for Congress to expand the EITC. Our tenacious leader, Nora Carpenter, stressed the importance of the EITC and how credits like the EITC and the Child Tax Credit, can help lift people out of poverty.
This year, we are dedicated to promoting the EITC, ensuring hardworking Idahoans know these tax credits are there for the taking.
United Way fights for the health, education and financial stability of everyone in the Treasure Valley. Fight with us, as we promote financial stability and awareness of the EITC.
Learn more about United Way's efforts to promote and expand the EITC.