Keep the money you earned!

What is the “Earned Income Tax Credit?”

The Earned Income Tax Credit (or “EITC” as it’s commonly known) is a tax credit for working people. The EITC rewards low-wage work by reducing the taxes that low-wage workers pay on their earnings and by supplementing their wages. Only people who work are eligible for the EITC, and for workers with very low earnings, the size of the credit increases with each additional dollar of earnings, providing an incentive for more work. Extensive evidence shows that the EITC encourages work: they encourage families to obtain jobs and remain employed.

Millions of children in working families live in poverty, and millions of families with incomes modestly above the poverty line have difficulty affording food, housing, and other necessities. The federal EITC now lifts about 4.4 million people — over half of them children — out of poverty each year; it’s the nation’s most effective antipoverty program for working families.
 

Benefit to the Local Economy

The Dutchess County Economic Development Corporation confirms that in Orange and Dutchess Counties, every $1 spent makes an impact on the local economy of $1.50.

In the Spring of 2010, 419 Dutchess County filers claimed $763,893 in Earned Income Tax Credits. These credits made a $1,759,157 impact on the local economy.

NOTE: In New York State, 1.6 million EITC recipients received an average EITC amount of $2,141 for a statewide total of $3.52 billion

Top Ranked Way Filers in Regional Survey Reported They Would Use Tax Return Money

• On bills
• On basic needs such as food or clothing for themselves and their family
• On rent or mortgage
• On other expenses, such as car repair, education, childcare

For more on the Earned Income Tax Credit: 

Center on Budget & Policy Priorities
The Internal Revenue Service 
 

What is the Hudson Valley CASH Coalition?

The Hudson Valley CA$H Coalition (CA$H stands for Creating Assets, Savings and Hope) is a group of some 30 local organizations including the United Ways of Dutchess, Ulster and Orange Counties; AARP Tax-Aide; Catholic Charities; the IRS; Cornell Cooperative Extension; and in Dutchess, the DC Community Action Partnership and North East Community Center. These organizations work together to assure access to free, reliable tax preparation services, claim the credits to which they are entitled (especially the Earned Income Tax Credit) and receive information regarding services that may help them stretch their small incomes
 

Who are the Partners in the Hudson Valley CA$H Coalition?

In Ulster County, they include the United Way of Ulster County, AARP Tax-Aide, the Internal Revenue Service, Fidelis Care and RSVP (Retired & Senior Volunteer Program).

In Orange County, they include Orange County United Way, AARP Tax-Aide, the Internal Revenue Service, Hudson Valley Region 2-1-1, Orange County Government, Leadership Orange, Literacy Orange, Cornell Cooperative Extension, Middletown Academy of Finance, Catholic Charities, Orange County Rural Development Advisory Corporation, Citizens Bank, Hudson Valley Federal Credit Union, YWCA and Fidelis Care.

In Dutchess County, they include United Way of Dutchess County, Dutchess County Community Action Partnership, AARP Tax-Aide, Catholic Charities Archdiocese of New York, North East Community Center, Hudson Valley Region 2-1-1, Cornell Cooperative Extension-Dutchess County, the Internal Revenue Service, Fidelis Care and Citizens Bank.
 

Who Funds the Hudson Valley CA$H Coalition?

United Way Worldwide, Tri-State Region
United Way of Dutchess County
Orange County United Way
United Way of Ulster County
Bank of America
TDBank
Ulster Savings Bank