No matter where you live, you can make a difference by educating low- and moderate-income families about federal, and in some cases state, tax credits that can help put thousands of dollars in their pockets!
Families with children or other dependents may be eligible for one or more of the following federal tax credits when they file their taxes for 2008 in early 2009:
Earned Income Tax Credit, which helps provide a wage supplement for low-income families (those earning less than $41,646 annually). This credit is worth up to $4,824, and is refundable.
Child Tax Credit, designed to help families offset some of the costs of raising children. This credit is worth up to $1,000 per child. Families who owe little or no income tax can receive some or all of this credit as a refund if they earned at least $8,500 in 2008.
Child and Dependent Care Tax Credit, designed to offset some of the child or dependent care costs that families incur in order to work. This credit is worth up to $2,100, though the amount that can be claimed is limited by a family’s actual federal income tax liability.
To access helpful outreach materials that you can use with the families you serve, visit the NWLC Tax Credits Outreach Campaign webpage at www.nwlc.org/LowerYourTaxes. These materials, many of which are available in Spanish and other languages, include state-specific fliers, envelope inserts, sample Public Service Announcement scripts, and Q&A’s about the federal credits.
3 years ago
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