Free Tax Preparation, Financial Education, Asset Building Products and Services in Philadelphia
Campaign for Working Families
Why File a Tax Return?
1. You can claim valuable tax credits!
The Earned Income Tax Credit or EITC is designed to reduce the tax burden on low-wage individuals and families. Many people use the Earned Income Tax Credit to make ends meet during periods of transition, like moving, unemployment, divorce, or having a baby. In Philadelphia, around 39,000 eligible households do not file for the EITC, leaving about $66.3 million in unclaimed credits.
Other Credits that you may be eligible for include:
Child Tax Credit Additional Child Tax Credit Child and Dependent Care Credit Education Credits Retirement Savings Contribution Credit
2. You can get your refund fast and free!
Your tax liability is primarily based on your filing status, number of dependents and how much tax you already paid. In fact, you may get a refund for taxes deducted from you pay check even if you're not required to file. To find a free CWF tax site and get your refund within 7-10 days, click here.
3. You may be required by law.
Most people are required to file both federal and state income tax returns, and it's not a good idea to put it off. To see if you are required to file a federal income tax return, click here.
The Earned Income Tax Credit (EITC) is a tax benefit for low-wage earners. In 2011, families and individuals who earned less than $49,078 (with children) or less than $18,740 (no children) were eligible. The EITC is worth up to $5,891 per year, based on family size and income.
For more than 30 years, the EITC has reduced the annual tax burden for low-income working families and emerged as America's largest and most effective anti-poverty program. In Philadelphia, an estimated 39,000 eligible households do not file EITC claims, leaving approximately $66.3 million in unclaimed credits. For more information about the Earned Income Tax Credit, visit the IRS's EITC information page.