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Have you heard of the Earned Income Tax Credit? It is a tax credit aimed at helping tax payers keep more of what they earned. The Gateway EITC Community Coalition provides help in obtaining the refundable tax credit when filing your federal tax return for free.
To claim the EITC, individuals must meet the following rules:
- Have earned incomeHave a valid Social Security Number
- Not have investment income that exceeds $2,900
- Cannot have "married filing separately" status
- Must be a U.S. citizen or resident alien all year
- Cannot be a qualifying child of another person
- Cannot file Form 2555 or 2555-EZ (related to foreign earn income)
In 2011, over 6,200 tax returns were completed for low income families in the St. Louis metropolitan area. Refunds totaling almost $8,300,000 were returned to these low income families free of charge, using electronic filing. Additionally, another $1,600,000 was saved by our clients not having to pay tax preparation fees.
For a list of free tax prep sites, click here.
For more on EITC from the IRS, click here.
