January 31st marked Earned Income Tax Awareness (EITC) Day. The EITC is a federal tax credit for low to moderate income working families and individuals. It’s designed to encourage and reward work, offset federal payroll and income taxes, and raise living standards. United Way of Central Georgia, the Family Investment Center, and IRS will host a press conference and “EITC Awareness Day” event on February 6th at the Family Investment Center at from 12 pm – 6 pm at 905 Main Street in Macon. The press conference will kick off at noon with events throughout the afternoon including Operation Hope (seminar to improve credit), a mobile health unit, self-help tax kiosk, drop-off tax location, and more.
Facts about the Earned Income Tax Credit: TO EARN THE EITC, A TAXPAYER MUST HAVE EARNINGS FROM A JOB. The credit rises with earned income until reaching a maximum (which varies by the number of qualified children) and then phases out as income rises further. According to research by the Center on Budget and Policy Priorities, the EITC significantly increases recipients’ work effort and is particularly effective at encouraging work among single mothers working for low wages. Researchers have found that the EITC not only reduces poverty, but improves infant and maternal health, improves children’s school performance, increases college enrollment, increases work and earnings in the next generation, and improves Social Security retirement benefits.
United Way of Central Georgia is a leading funder of health and human service organizations that have a measurable impact in fourteen Central Georgia counties and impact the lives of one in four local people annually. The annual campaign supports 43 programs along with 29 program partners. United Way initiatives include READ UNITED, MISSION UNITED, PINK PROMISE UNITED, RBI (Reviving Baseball in Inner Cities), Familywize, FIRST STEPS, myfreetaxes.com, Volunteer UNITED, The Merrie Christmas Project and Parents as Teachers. United Way of Central Georgia also funds a free, confidential seven-days a week, 24-hours a day information and referral line serving all of Central Georgia. Dial 2-1-1 to find or give help. For more information about what United Way of Central Georgia is doing in the community, visit www.unitedwaycg.org.