United Way invites the community to learn more about the EITC

Jan. 27, 2022 (Racine, WI) — United Way of Racine County invites eligible Racine County taxpayers, employers and service providers to learn more about the benefits of the Earned Income Tax Credit (EITC) and other tax resources by attending a virtual lunch and learn about the EITC on Friday, Jan. 28 at noon.

Jan. 28, 2022, marks the 16th anniversary of EITC Awareness Day, a nationwide effort to increase awareness about the EITC and other refundable credits. Workers may get a larger tax refund this year because of the EITC, but to get it, they must file a tax return and claim it. This year, the Internal Revenue Service (IRS) is promoting the EITC and providing information on other refundable tax credits that taxpayers may be eligible for. These include the Child Tax Credit (CTC) and Additional Child Tax Credit (ACTC), the Credit for Other Dependents (ODC) and/or the American Opportunity Tax Credit (AOTC).

Racine County residents who worked last year and had an income of less than $57,414 can check their eligibility for the EITC, which can mean a tax refund of around $1,500 to $6,700. In 2021, 350,000 Wisconsin taxpayers were able to claim a total of $784 million through the EITC.

The EITC is complex. It varies by income, family size and filling status. To be eligible, taxpayers must have earned income or certain disability income. This means they must have income from working for someone or working for themselves. United Way’s virtual lunch and learn about the EITC will help employers, individuals and others learn more about how to claim the EITC.

Why is it important to have to have an EITC Awareness Day each year? One-third of the EITC population changes each year. The IRS estimates that four out of five workers claim the EITC they earned. This leaves billions of dollars on the table each year that could support individuals and families with extra income for rent, groceries and more necessities.

"The EITC is a valuable tax resource that people often don’t know about,” said Ali Haigh, president and CEO of United Way of Racine County. “We want to change that as part of our fight for the financial stability of Racine County.”

To learn more about the EITC and how to claim it for yourself or others, as well as other tax resources, visit UnitedWayRacine.org/VITA.