PHILADELPHIA (KYW Newsradio) — Each year, millions of Americans fail to collect money they have coming to them through the Earned Income Tax Credit (EITC). In Philadelphia alone, about 50,000 people are missing out.
As tax filing season gets into full swing, officials are urging residents to take advantage of the credit.
Mayor Cherelle Parker’s plea is the latest in a decades-long effort to get more eligible Philadelphians to claim the benefit — a check from the U.S. Treasury for up to $8,000 just for filing your taxes.
“We need every single one of you to help us spread the word and raise awareness about the EITC,” she said. “I wish we could go and sound the alarm.”
The mayor and Nikia Owens of the Campaign for Working Families called it the greatest anti-poverty program the federal government offers, but at least 20% of those eligible don’t take advantage of it.
“There’s 50,000 households that don’t claim the credit, leaving over $100 million on the table, every year,” Owens said of the money left on the table in just Philadelphia.
Officials like Councilmember Rue Landau also made a pitch for the federal Child Tax Credit and the city’s low-income real estate tax freeze, both of which are also underused.
“You will get money back into your pockets,” she said.
The city has also extended the deadline to apply for the low-income real estate tax freeze to the end of February. Together, Landau said, low income households could be getting as much as $10,000 each.
“Let’s get that money off the table and into the pockets of Philadelphians,” said Landau.
For more information about the EITC and other tax filing help, go to the city’s website to help with tax preparation.