Time for Milwaukee to stop leaving money on the table
At news conference, city leaders and IRS to tout importance of claiming Earned Income Tax Credit
The numbers are impressive: Last year in Milwaukee County, more than 91,000 individuals and working families received the Earned Income Tax Credit (EITC), totaling nearly $233 million. The average credit was more than $2,500.
However, approximately 20% of the Milwaukee County families and individuals eligible for the EITC did NOT claim it, leaving significant dollars on the table.
On Friday (April 4, 2014) Common Council President Michael J. Murphy, Mayor Tom Barrett, City Treasurer Spencer Coggs, a representative of the Internal Revenue Service and other members of the Common Council will hold a news conference to raise awareness of the EITC and to urge residents to find out if they’re eligible for it. The news conference will take place at 11:15 a.m. in the first floor rotunda at City Hall, 200 E. Wells St.
Common Council President Murphy said tax filing season is in full swing and it is important for Milwaukee residents to take advantage of every tax credit and deduction available to them. “The Earned Income Tax Credit is available on both state and federal taxes and is a means to supplement the income of low- to moderate-income individuals and families,” he said.
“I strongly urge everyone who may be eligible to find out if they can have the advantage of getting this helpful tax credit, as it can be a significant financial benefit for many households,” President Murphy said.
Mayor Barrett also encouraged residents to get informed and get a refund. “The Earned Income Tax Credit can make a significant financial difference for Milwaukee families,” Mayor Barrett said. “It can also provide a tremendous boost to the local economy.”
To be eligible for the EITC, the taxpayer must file a tax return even if they are not required to file. Then depending on income and dependents, the taxpayer could receive a tax credit that will reduce the amount of taxes owed or if the tax credit is larger than the amount of tax owed, the taxpayer will receive that monetary difference.
There are many free options to help workers determine their eligibility and file and claim their EITC:
- IRS YouTube Video: Earned Income Tax Credit: English | Spanish
- Know the rules and get it right. The online EITC Assistant at www.irs.gov helps workers determine their eligibility.
- Persons making $51, 567 a year or less are qualified to access free tax return preparation services that are available at more than 13,000 community volunteer tax assistance sites.
- Individuals can electronically Free File their returns and claim their EITC using brand name software products. Visit www.IRS.gov to access software.
- If in doubt about EITC eligibility, workers should check it out at www.irs.gov/eitc.
Office of the Mayor Mayor Tom Barrett
City Hall, Room 201 200 E. Wells Street Milwaukee, WI 53202
(414) 286-2200 firstname.lastname@example.org
Council President Michael J. Murphy 10th District Alderman
City Hall, Room 205 200 E. Wells Street Milwaukee, WI 53202
(414) 286-2221 email@example.com
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