Low income individuals and families are being encouraged to apply for the newly-increased Earned Income Tax Credit this year.
The EITC is designed to help the lowest-income families in the state and is available only to those who are working. Recently the EITC was increased and is expected to save working families about $105 million a year.
The increase in the credit also helps local economies, with every dollar a family saves through the credit generating about $1.58 in local economic activity.
In order to benefit from the credit, it must be included on your tax return. Last year, ten to twenty percent of those eligible did not filed for EITC.
Also, the Illinois Department of Human Resources and the Center for Economic Tax Counseling Project is teaming up to help low-income families and individuals prepare their taxes for free. Families making less than $50,000 a year and individuals with incomes less than $25,000 a year are eligible for the service.
The following tax preparation centers are available locally:
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