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Volume 6, Issue 1, 2006   Federal Reserve Bank of Dallas
   The Houston Asset Building Coalition's ad campaign to increase awareness of the Earned Income Tax Credit and promote free tax preparation for low-income taxpayers.

Earned Income Tax Credit
Campaign Urges Taxpayers to File for Unclaimed Refunds

The IRS estimates that millions of dollars are left unclaimed each year by taxpayers who could benefit from it the most. Why are thousands of low-income households leaving money on the table? Most experts believe people are not claiming the credit because they do not know the EITC exists or think they are not eligible. Read more »

EITC Initiatives in the Fed's Eleventh District

Throughout the Eleventh District, communities are taking innovative steps to get the word out about the Earned Income Tax Credit. Read more »

Call for Volunteers

The success of Earned Income Tax Credit projects throughout the nation is dependent on volunteers. Read more »

New Product for Unbanked Taxpayers

Chase's Direct Benefit Card allows faster filing and receipt of tax refund for those without a bank account. Read more »

News & Events

  • The Texas Legislature passed a bill last year requiring that the Health and Human Services Commission inform people in government assistance programs such as Medicaid about free income tax filing services. In addition, the bill requires the Attorney General's office to provide EITC information to people obligated to pay child support.
  • VITA sites are not the place to go for assistance with tax preparation if you are planning to claim a casualty loss. This is important information for people affected by recent hurricanes. Free tax preparation is available, however, at IRS walk-in locations. For more information, call a special number the IRS has established for assistance to people affected by Hurricanes Katrina and Rita, 1-866-562-5227, or go to www.irs.gov Off-site page.
  • More than 70 percent of the nation's taxpayers—over 92 million people—qualify for Free File this year. Free tax preparation and free electronic filing are available online for taxpayers with adjusted gross incomes of $50,000 or less through a new agreement between the IRS and the Free File Alliance, a consortium of tax-preparation software companies. More than 5.14 million taxpayers used the service last year, up almost 47 percent from 2004. Taxpayers do not have to purchase any product to qualify for the free services. Alliance members that offer refund anticipation loans must disclose fees and interest rates up front and make clear that these are loans, not tax refunds. Taxpayers must access Free File through www.irs.gov Off-site page.

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