NEW YORK - As Apr. 15, the deadline for filing taxes, approaches, the city is doing what it can to make sure the day isn't too taxing for many low-income New Yorkers.
Last week, Mayor Michael R. Bloomberg launched the fourth year of New York City's Earned Income Tax Credit (EITC) campaigns by announcing the opening of more than 40 free tax preparation centers and an expanded partnership with the nation's two largest paid tax preparers, H&R Block and Jackson Hewitt.
"Nobody likes to think about taxes, but between now and April 15th, qualified New Yorkers should take advantage of the Earned Income Tax Credit, which puts thousands of dollars back into the pockets of hard-working families who are making their way up the economic ladder," said Mayor Bloomberg on his Jan. 22 radio address.
Those who qualify for EITC include individuals making an annual income of $11,750 or less, or a family making less than $35,263. EITC offers a combined maximum refund of $5,940, and, because the credits are retroactive for up to three years, some families could receive nearly three times that much.
"All that can make a big difference for a family that is struggling to make ends meet," said Mayor Bloomberg.
Full-time and part-time workers, including self-employed workers, who are legally authorized to work in the United States are eligible for the tax credit. Nearly 800,000 New Yorkers claimed the EITC in 2004, bringing more than $1.5 billion, most of it federal money, into the city, according to the Mayor. However, an estimated 200,000 New York residents who are eligible for the EITC never submit a claim.
New York City runs the largest EITC campaign in the country—distributing more than 7 million pieces of literature in 11 languages—and has worked to encourage EITC-eligible New Yorkers to open basic bank accounts so they can quickly and safely get the money they've earned without resorting to high fee loans.
On Jan. 19, Mayor Bloomberg and other city officials toured the nation's busiest free tax preparation site run by FoodChange in Harlem and reminded New Yorkers earning less than $37,000 to claim the EITC when they file their taxes.
"FoodChange prepared 40,000 free quality tax returns last year and help put $70 million in EITC dollars into the wallets, stomachs and communities of low-income New Yorkers," said Richard Murphy, Executive Director of FoodChange, an advocacy and direct service organization that promotes access to nutritious food and adequate income for low-income New Yorkers. "This year, we are looking to surpass our numbers and continue to be the nation's number one civilian free tax preparer."
The nation's two largest tax preparation services, H&R Block and Jackson Hewitt, have committed to expand efforts to reach EITC-eligible residents. New York City's Earned Income Tax Credit partnership with H&R Block and Jackson Hewitt offers discounted tax preparation to income eligible members of six of the city's labor unions. H&R Block is also extending that program to EITC-eligible residents in 19 neighborhoods targeted by the city.
Feeds