An Important Reminder This Tax Season for Your Employees About the Earned Income Tax Credit

The Massachusetts Department of Revenue (DOR) estimates that approximately 75,000 Massachusetts workers are failing to take advantage of a valuable state and federal income tax credit.

The Earned Income Tax Credit (EITC) is available to low income working individuals and families and can save workers an average of $1,500 a year on their federal taxes and $231 on their Massachusetts state taxes. 

The amount of the credit varies depending on income levels and number of family members.  For example, a family with two children who earned less than $35,000 in 2004 can receive up to $4,900 in federal and state credits.  Eligibility for the EITC can easily be determined by visiting http://www.irs.gov/, answering a few simple questions and providing some basic income information. 

For more information regarding this important program please contact Bill Rennie, Public Affairs Director, via e-mail or  by calling (617) 523-1900 ext. 11.