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Released: February 22, 2012
The tax break that millions miss out on
Source: Dan Caplinger, CNNMoney.com (Free Registration)
There’s a popular tax break out there that paid more than 26 million workers a total of nearly $59 billion last year. Yet as many as 1 in 4 of those who qualify for this tax credit failed to claim it, missing out on hundreds, or even thousands, of dollars.
That break is the earned income tax credit. Designed to help low- and middle-income wage earners make ends meet, the credit helps reverse the effect of payroll taxes. Despite the best efforts of community organizations and various government agencies, however, the credit doesn’t reach some of the families who need it most.
Read Full Article: The tax break that millions miss out on
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