Earned Income Tax Credit
In Florida, as much as $635 million goes unclaimed by more than 350,000 working families, according to the Agency for Workforce Innovation.
The Miami Herald reports last month that more eligible individuals are taking the Earned Income Tax Credit (EITC) than in previous years. The refundable federal credit returns up to $4,400 to working families with children who make roughly less than $35,000. Childless workers who make less than $11,000 are also eligible for a smaller credit.
This year anyone with their main home in Miami-Dade, Broward or Monroe counties when Hurricane Wilma hit can choose to use their 2004 income to compute the credit if it allows for a bigger refund.
Key Trends Among Low-Income Taxpayers in Florida, 2000-2003, have been compiled by the Brookings Institution. The following Florida cities have a summary highlighting key trends among low-income taxpayers between tax years 2000 and 2003: Clearwater, Fort Lauderdale, Jacksonville, Miami, Orlando, Sarasota, St. Petersburg, and Tampa.
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Monday, March 27
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