News Details

Monday, February 8, 2010                                                                

For More Information:

Rep. Tyler Olson, 515-281-3221

 OLSON REMINDS FAMILIES TO FILE
FOR EARNED INCOME TAX CREDIT; FREE TAX FILING

Des Moines, Iowa – State Representative Tyler Olson of Cedar Rapids reminded working families today to claim the Earned Income Tax Credit on their 2009 taxes.  Olson also said many families are also eligible to participate in a free tax filing program.

“Thousands of hard-working, middle class families are struggling to pay their bills in these tough economic times and many do not realize they are eligible for a refundable tax credit when they file their 2009 federal and state income taxes,” said Olson.  “As Iowans begin to work on their taxes this season, I want to make sure everyone who is eligible claims this credit.”

Workers with one child and earnings less than $35,463 in 2009 are eligible for a tax credit up to $3,043.  Workers raising more than one child with income less than $40,295 can get up to a $5,028 credit.  Working individuals who are not raising children in their home between the ages of 25 and 64 and had income less than $13,440 are eligible for a $457 tax credit.

The Earned Income Tax Credit is now the largest federal cash benefit to low-income workers, surpassing welfare benefits in total dollars nationwide. Three years ago, Iowa expanded eligibility for the EITC on state taxes and made the credit refundable to more Iowa families. 

According to the Internal Revenue Service, about 25% of eligible workers don’t claim the credit.  For more information or assistance on the EITC, call 1-800-829-8482 to find your local tax assistance site or log on to www.irs.gov. Iowans can also call United Way 2-1-1 for assistance.

A public-private partnership, the Free File Alliance, is also offering middle class families who meet certain income guidelines a fast, free and safe way to do their taxes online.

“I urge Iowans to take advantage of this free service because even if you don’t owe any state income tax, you may have the opportunity to receive a refund,” said Olson.

The program is made possible through a partnership between the IRS and the Free File Alliance. To learn more visit, www.freefile.irs.gov.  

# # #