NSCAP Calls Attention to Tax Credit for Low-Income Earners

Do you know what Earned Income Tax Credit is? The Internal Revenue Services indicates that one out of five eligible taxpayers don't, even though they're entitled to claim it on their yearly tax return and substantially increase their tax deductions.

The EITC has come to be regarded as the nation’s largest federal anti-poverty program, created in 1975 to help the "working poor" keep more of what they earn, according to North Shore Community Action Programs.

The Peabody-based nonprofit is calling attention to the tax credit and the sixth annual Earned Income Tax Credit Awareness Day on Jan. 27.

“The Earned Income Tax Credit puts money that they have already earned back in the pockets of working families, people we know are struggling right now to make ends meet,” said Beth Hogan, NSCAP’s Executive Director.

“It’s the most effective anti-poverty program I know. Just last fall, the state Budget and Policy Center published an analysis looking at the impact of different social programs. They found that without the EITC, about 6 million additional people – more than half of them children – would fall into poverty,” Hogan said.

NSCAP reports that last year, the anti-poverty agency helped 548 low-income earners file returns for a total of $581,042 in tax credits, or an average return of $1,060 per family that could pay for food, housing and heat.

Taxpayers must meet certain income and eligibility requirements to qualify for the credit when filing their tax return.

As part of its efforts to educate low-income taxpayers on the EITC and other tax breaks, NSCAP is offering free tax preparation sessions for the sixth straight year that will be held in Peabody and Beverly.

NSCAP says both sites will be staffed by IRS-certified volunteers.

Services will be offered by appointment at the NSCAP Family Center at 75R Central St. and over at Beverly Bootstraps at 371 Cabot St. in Beverly. Appointments can be made Monday, Tuesday and Wednesday afternoons and Saturday mornings now through April 14.

Call 978-531-0767 ext. 222 for an appointment.