Two Lesser Known Tax Facts

Share |
(Sacramento, CA)
Monday, March 5, 2007

Patti Cokely with H & R Block in Folsom says few taxpayers know about the earned income tax credit:
About 7 point 3 million taxpayers are eligible for this tax credit, and 25 percent never claim the credit because they’re not aware of it.
The earned income tax credit was set up in 1975 for low income workers.
Officials with the Sacramento Mutual Housing Association, which gives free tax help to those who qualify, say the earned income tax credit should prompt all low income individuals to file a tax return.
Anne Marie Flynn, with the Association, says eligible taxpayers can receive up to 45 hundred dollars, even if they don’t pay any taxes:
Even if you don’t owe money, you can get money back, if you had some earned income in  the year, so that’s a really good hook for people to file their taxes.

 A brand new refund is the telephone tax refund. It’s a one time payment of at least 30 dollars, available to anyone who paid federal  taxes on long distance phone service, and that includes just about everyone.