Help Put More Money in the Hands of Working Families!

Families in New York could get up to 
 thousands of dollars in tax credits.

 

January 2008

You don’t have to be a tax expert to help working families learn about and claim the Earned Income Tax Credit (EITC), the Child and Dependent Care Tax Credit (CDCTC) and the Child Tax Credit (CTC).  

Welcome to the 2008 NYSCCCC Tax Credit Outreach Campaign for working families and individuals.  The Campaign is a statewide network of community organizations, employers, businesses, social services programs, faith-based organizations, schools, advocacy groups and others, working to promote the Earned Income Tax Credit, the Child and Dependent Care Tax Credit and the Child Tax Credit, bringing these tax benefits within reach of working families and individuals. All information is widely explained by following exploratory essay help instructions. 

There are many opportunities to raise awareness about these tax credits and to help eligible working families and individuals claim these important tax benefits.  Since most of these benefits are spent in local communities, filing for, and receiving these tax credit dollars are considered important economic development tools for low to moderate-income neighborhoods.  Remember both customers and employees may be eligible for the EITC, the CDCTC and the CTC.   

In New York State, thousands of people are working hard to make life better for themselves and their families.  Sometimes, with the jobs they hold, they simply don’t earn enough to make ends meet.  This year, the EITC is  worth more than ever – over $4,700 for some families.  Many families may also qualify for the federal CDCTC, worth up to $2100 and the federal CTC, worth up to $1000 for each child. 

Each year, in New York State, millions of dollars of EITC credits go unclaimed because eligible workers don’t know about the credit or are uncertain about how to apply.  The IRS estimates that 26% of households eligible for tax credits do not claim them, hence the importance of this outreach. 

Your participation in the 2008 NYSCCCC Tax Credit Outreach Campaign can ensure that eligible workers, who haven’t heard about these tax credits, learn about them and actually receive them. 

The families you serve may be eligible for one or more of the following:  

Up to $4,716 from the federal Earned Income Tax Credit and up to $1,415 from the New York Earned Income Tax Credit; 

Up to $2,100 from the federal Child and Dependent Care Tax Credit and up to $2,310 from the New York State Child and Dependent Care Tax Credit and up to $1,733 from the New York City Child Tax Credit;

The federal Child and Dependent Care Credit is not refundable and can only be used to offset taxes owed. This means that families who qualify for a credit that is larger than the amount of tax they owe, only receive a portion of the credit - up to the amount of tax they owe. For example, a family that qualifies for a credit of $800 but only owes $200 in taxes will receive a credit of $200.  Families whose income is so low that they owe no tax receive no credit at all. The New York State and New York City Child and Dependent Care Credits are refundable.  This means that families can receive the full value of the credit for which they qualify regardless of whether they owe taxes.  So the family in the example above would receive a tax refund of $600; and

Up to $1000 per child from the federal Child Tax Credit and up to $330 per child from the Empire State Child Tax Credit.

Below is a list of attachments that have been provided for you.  Please make multiple copies and distribute widely in your communities.

For more information on the federal and state child care credits, visit the National Women’s Law Center at www.nwlc.org.

230 Washington Avenue Extension Albany, NY 12203 ph. 518-690-4217 fax 518-690-2887