Thursday, April 8, 2010
Claiming Tax Credits Helps Stimulate the California Economy
A report published by the New America Foundation and economists at California State University at Fresno showed that one in five Californians who qualify for Earned Income Tax Credit (EITC) will not claim these refunds. According to the report, this amounts to a loss of more than $1 billion for California’s economy because local businesses will lose out on sales that would have created thousands of jobs.
To learn if you are eligible for the EITC, go to www.weconnect.net, an initiative of California First Lady Maria Shriver or call 211 to learn about local free tax preparation services.