Wednesday, July 30, 2014         

 Print   Email   Comment | View 0 Comments   Most Popular   Save   Post   Retweet

IRS shares money-saving tip

By Star-Advertiser staff

LAST UPDATED: 08:33 a.m. HST, Feb 07, 2013

With the start of the tax filing season, the Internal Revenue Service is reminding working families to check to see if they can claim the Earned Income Tax Credit.

Roughly one in five people eligible for the credit miss out each year. In Hawaii last year, more than 100,000 families claimed the credit, saving an average of $2,100 each. 

The credit varies by income, family size and filing status. A married couple filing jointly with two qualifying children may earn up to $47,162 and be eligible for the credit. 

“About a third of the people eligible for EITC changes every year, probably because they get a job or lose one, have a child or change their marital status,” said David Tucker II, IRS spokesman.

To determine whether you qualify for the credit, visit IRS.gov/eitc and answer questions through EITC Assistant. Even workers who are not normally required to file tax returns must do so to claim the credit. 

Free help in filing taxes is available through “FreeFile” at IRS.gov or at Volunteer Income Tax Assistance sites.

 Print   Email   Comment | View 0 Comments   Most Popular   Save   Post   Retweet

You must be subscribed to participate in discussions
By participating in online discussions you acknowledge that you have agreed to the TERMS OF SERVICE. An insightful discussion of ideas and viewpoints is encouraged, but comments must be civil and in good taste, with no personal attacks. Because only subscribers are allowed to comment, we have your personal information and are able to contact you. If your comments are inappropriate, you may receive a warning, and if you persist with such comments you may be banned from posting. To report comments that you believe do not follow our guidelines, email commentfeedback@staradvertiser.com.
Leave a comment

Please login to leave a comment.
Breaking News