Earned Income Tax Credit (EITC), is a refundable tax credit signed in to legislation in 1975 to help alleviate some of the burden of social security taxes and provide incentives to work for low to moderate income individuals. EITC has shown to be the most successful federal program in lifting working families above the poverty line. A common myth is that those who do not work are collecting EITC.
On Friday, we were at the Atlanta Workforce Group for the start of tax season and to promote awareness of the Earned Income Tax Credit, or the EITC.
With representatives from Mayor Kasim Reed’s office and the IRS speaking, our executive director, Bill Bolling led the press conference talking about how important the EITC credit is. The EITC is a tax credit available to people with low to moderate income. The credit has helped over 27 million households and has been not only a benefit to those who qualify, but to the economy as well.