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News Release from Comptroller Susan Combs

For Immediate Release
January 29, 2010

Earned Income Tax Credit Can Help Families and Stimulate the Texas Economy

(AUSTIN) — Texas Comptroller Susan Combs says a slow economy means more Texas families may qualify to claim the Earned Income Tax Credit (EITC) on their federal income tax.

“2009 was a tough year,” Combs said. “Many people lost jobs or took home less pay. But if you worked full- or part-time for at least part of 2009, the Earned Income Tax Credit could put money back in your pocket.”

EITC refunds are based on family size and income. Families with three or more children and less than $48,279 in earned income during 2009 may qualify for a tax credit up to $5,657. The EITC is also available to families with two children and an earned income less than $45,295, who can claim a tax credit up to $5,028. Families with one child earning less than $40,463 may qualify for a tax credit up to $3,043. For a childless family earning less than $18,440, a credit up to $457 is available.

More information about how to qualify for the EITC, printable materials for businesses and community organizations to distribute and helpful links to IRS tax forms and publications can be found on the Comptroller’s Web site at www.window.state.tx.us/taxinfo/eitc/ or by calling the IRS at (800) 829-1040. Information is also available about the Volunteer Income Tax Assistance (VITA) program, which offers qualifying taxpayers free tax preparation assistance and free electronic tax filing at many locations.

“Last year, more than 2.3 million Texans claimed the credit and received more than $5.3 billion in EITC refunds,” Combs said. “That’s an average of $2,313 per qualifying household, bringing financial relief to families and a boost to the Texas economy.”

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