EITC Can Keep More Money In Your Pocket
State Senator Malcolm A. Smith is urging his constituents to take advantage of the Earned Income Tax Credit (EITC). For those who qualify, the EITC is a special federal tax benefit that was created to assist low and moderate-income workers. This tax credit has not only helped to reduce taxes for those who qualify, but may even result in a tax refund.
"The EITC program has been proven to significantly ease the tax burden for individuals and families, and my constituents who are eligible should take advantage of its taxsaving power," said Smith. "I believe New Yorkers must be better informed about this valuable program."
In addition to the federal EITC benefits, New York State offers its eligible residents a further tax credit equal to 30 percent of the federal EITC for tax year 2007. Eligible workers and families can reap significant tax savings by applying for both the federal and state tax credits. individuals interested in further details about EITC eligibility may contact Senator Smith's office at 718-528-4290.