Earned income tax credits provide financial breathing room for low-income families
The California Earned Income Tax Credit (Cal EITC) has helped many families in the region get more cash back in their pockets during tax season. There have been several studies that show that children in households that receive an Earned Income Tax Credit do better in school and are more likely to pursue higher education.
Region-wide, more than $12 million was put back into the pockets of people making less than $14,000 a year through the Cal EITC credit. The average credit was $516. Our VITA sites helped many local families file their returns, contributing to this total.
A generous state grant allowed us to promote the Cal EITC locally through various forms of media, and also to support the work of three community partners to get the word out on the ground in zip codes with high numbers of eligible households. Thank you to Asian Resources, Inc., La Familia Counseling Center and Mutual Assistance Network for all their work!
Throughout tax season, we asked families that could qualify for Cal EITC what they would do with the money they saved on their tax returns. The responses were resounding in that families would put the money towards expenses that would otherwise put a major dent in their finances.
We’ve seen just how much of an impact Cal EITC has on families in our region. Over the past few months, we’ve been honored to have helped advocate for the expansion of Cal EITC. This will help more families in our region lead financially stable lives so their children can focus on school.
It’s not too late to file your taxes even if you missed the April 18 filing deadline. For more information on how to get your taxes done for FREE this summer and to see if you qualify for Cal EITC, click here.