THE RECESSION has been hard on everyone, but the pain is most excruciating for low-income families. Moms and dads who work long hours at low-paying jobs to feed their children and pay the rent are under extreme stress at a time when state and local budget cuts have shredded safety net programs. Congress recognized the needs of these fragile families and approved a temporary increase in the federal earned-income tax credit for 2009 and 2010. That bonus credit automatically bumped up the value of a similar state tax break, which is equal to one-fifth of the federal credit.
WASHINGTON, Sept. 14, 2011 /PRNewswire-USNewswire/ -- Consumer advocates at the National Consumer Law Center (NCLC), Consumer Federation of America (CFA) and Community Reinvestment Association of North Carolina (CRA-NC) cheered the announcement by H&R Block, the largest tax preparation chain in the country, that it will not offer refund anticipation (RALs) in 2012. "H&R Block did the right thing by deciding to 'just say no' to RALs," said Chi Chi Wu, a staff attorney at the National Consumer Law Center. "We have criticized these as high cost and risky for over a decade, and we are pleased that Block has actively decided not to offer them. RALs are one to two week made by banks and offered by tax preparers, secured by the taxpayer's refund. RALs can be expensive; earli...
... in consumer issues on behalf of low-income people. NCLC works with legal services, government...
DARLINGTON, Wis. - A Benton Township woman has been charged with five counts of fraudulent claim for tax credit. According to the criminal complaint, Kathy Richard, 44, submitted fraudulent Earned Income Tax Credit Claims to the Wisconsin Department of Revenue for 2004, 2006, 2007, 2008 and 2009. In each, Richard claimed to own and operate a fictitious day care business. She obtained $7,979 by defrauding the state Department of Revenue. She also obtained $12,165 by filing similar claims with the federal government.
Time running out for tax credits Congress' to-do list omits a piece of tax legislation that would affect up to 84,000 families in New Mexico, and 9 million families nationwide, providing them a chance to stay out of poverty. The Earned Income Tax Credit and the Child Tax Credit were expanded as part of the 2009 stimulus bill. These refundable tax credits incentivize work and make a big impact on our local economy, as tax refunds are spent promptly on essentials like rent, food, clothing, auto repairs.
DARLINGTON, Wis. - A Benton woman has pleaded guilty in Lafayette County Court to three felony counts of fraudulent claims for tax credit. According to the criminal complaint, Kathy Richard, 44, submitted fraudulent earned income tax credit claims to the Wisconsin Department of Revenue for 2004, 2006, 2007, 2008, and 2009. In each of the claims, Richard claimed to own and operate a fictitious day- care business. She obtained almost $8,000 by defrauding the state Department of Revenue. Richard also obtained a little more than $12,000 by filing similar claims with the federal government.
... a deficiency in petitioner's Federal income tax of $4,875 for 2009. Respondent asserted an inc... filing status; (d) is entitled to the earned income credit; and (e) is entitled to the addition...
NEW HAVEN -- New Life Corporation and the Coalition for Working Families Tuesday announced the 2010 Volunteer Income Tax Assistance Campaign, which provides income tax preparation services for low and moderate income working individuals and families. The program, which works through the federal Earned Income Tax Credit Program, in 2009 served 2,560 working families and returned more than $5 million to filers in federal refunds and earned income tax credits, New Life said in a statement. The program assists working individual/family households that earn less than $49,000 a year in accessing federal income credits while filing their income tax returns at no cost to them.
At Volunteer Income Tax Assistance (VITA) sites, trained volunteers provide free tax preparation for individuals whose household income is below $49,000. Volunteers are trained to assist clients in claiming valuable credits, such as the Earned Income Tax Credit, bringing hundreds of thousands of dollars back into the county's economy. During the 2009 tax season, the VITA site at the Community Action Program helped clients claim more than $445,000. With VITA sites across the county already seeing a 50 percent increase in clients from last year, volunteers are needed more than ever to help with this program. The Lancaster Money in Your Pocket Coalition needs Spanish translators to assist VITA volunteers with preparing taxes. Volunteers will assist clients in completing forms and relaying ...
Highlights of the plan drafted by House Democrats and President- elect Obama's economic team. Additional debt costs would add $347 billion over 10 years. Many provisions expire in two years. SPENDING Aid to the poor and unemployed -- $43 billion to provide extended unemployment benefits through Dec. 31, increase them by $25 per week and provide job training; $20 billion to increase food stamp benefits by 13 percent; $4 billion to provide a one-time additional Supplemental Security Income payment; $2.5 billion in temporary welfare payments; $1 billion for home heating subsidies; and $1 billion for community action agencies. Health care -- $40 billion to subsidize health care insurance for the unemployed under the COBRA program or provide health care through Medicaid; $87 billion to hel...
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