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In 2008 more than 24 million workers claimed some $50 billion in Earned Income Credits (EIC). In 2009 the EIC could be worth as much as $5,657 for some working families. Providing IDA participants with information on free tax preparation and tax credits, such as the EIC, can significantly improve their financial well-being. Marketing the EIC and other credits, and providing tax preparation assistance to low-income families, are important components of effective AFI programs. One way to address both needs is through outreach and community partnership. This list of links and materials helps your organization serve low-income IDA participants; increase outreach and marketing capacity; maximize the ability to recruit, train, and retain tax volunteers; and understand links to asset-building strategies.

EITC, the Earned Income Tax Credit, sometimes called EIC is a tax credit to help you keep more of what you earned. refundable federal income tax credit for low to moderate income working individuals and families. Congress originally approved the tax credit legislation in 1975 in part to offset the burden of social security taxes and to provide an incentive to work. When EITC exceeds the amount of taxes owed, it results in a tax refund to those who claim and qualify for the credit.