Don’t miss out on these credits!
What is the Earned Income Tax Credit (EITC)?
The EITC is a federal tax credit for low- and moderate-income working people. In 2017, the average EITC refund in Wisconsin was $2,248. In total, $825M of earned dollars was infused into Wisconsin's 2017 economy from EITC refunds.
How do I know if I’m eligible for the EITC?
When filing taxes for 2018 (due in April 2017), working families with children that have annual incomes below $54,884 may be eligible for the federal EITC. Individuals making below $15,270 and married couples without children making below $20,950 may also be eligible for the federal EITC.
What is the Child Tax Credit (CTC)?
A federal tax credit of up to $2,000 per qualifying child.
How do I know if I’m eligible for the CTC?
To claim the CTC, there are seven qualifying elements for each child: age, relationship, support, dependent status, citizenship, length of residency and family income. You and/or your child must pass all seven to claim this tax credit.
What is the homestead credit program?
The homestead credit program is designed to soften the impact of property taxes and rent on persons with lower incomes. The benefit available may take the form of an income tax credit or a direct refund. The credit is based on the relationship of your household income to the amount of your allowable property taxes and/or rent for the calendar year.
Visit a VITA site or www.irs.gov to see if you’re eligible.
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