Old News Archive

Economic Stimulus for Cash Strapped Families: EITC – The Earned Income Tax Credit

January 19, 2009 - TRC

Low wage earners, especially those with kids, can get a healthy boost to their income through the Earned Income Tax Credit (EITC). This program has become the single biggest income supplement provided by the federal government. A married couple
with two or more children, earning between $12,050 and $18,750, could collect $4,824 in their Tax Year 2008 refund. A single mom with one child, earning $10,000, could collect $2,917. Even a couple with two children who earn $38,000 can still get $773.
That could be oil in the tank, needed car repairs, or even a (Penquis) Family Development Account (FDA) matched savings account. We need to spread the word about this great benefit, since the IRS estimates that 15 to 25% of eligible families don’t ever apply to get their EITC.

Application is easy, especially since Penquis, AARP, and the Eastern Maine CA$H Coalition are again offering free tax preparation and speedy refund “E” filing at dozens of convenient locations. Our preparers are trained to IRS standards and use approved software to assure that clients get the maximum refund due them. Over 3,500 clients were served last year in Eastern Maine.

Finding a location for Free Tax Preparation near you is as easy as dialing “211” anytime after January 15. For an appointment at the Penquis office in Bangor, call 973-3500 or just stop by the front desk. Call 564-7116 for an appointment at the Penquis
office in Dover-Foxcroft. Don’t pay outrageous preparation fees and subject yourself to a pressure sell to get a “Rapid Refund” loan when quality service and fast refunds are available free !

From the Penquis Current by Paul Matulis

NOTE - This article reflects the views of the author and not necessarily those of the TRC Alliance Team.