Brooklyn's Progress
February/March 2006

By Leticia Theodore

For the fourth year in a row the City of New York is carrying out a campaign to put extra money in the pockets of low-income New Yorkers with the Earned Income Tax Credit (EITC). This means free tax preparation for some while others in specific neighborhoods and participating unions will receive discounts.

The benefit doesn’t affect employers. In fact, it can help them to help qualifying employees by educating them on how to put extra money in their pockets. The City is even providing free information and pamphlets, in 11 languages, about the EITC.

The benefit applies to full-time, part-time and self-employed workers who are legally authorized to work in the United States and who file taxes. Last year nearly 80,000 New Yorkers brought $1.5 billion into the City by claiming the benefit, but, an estimated 200,000 who are eligible didn’t apply.

Under the eligibility guidelines individuals can get more than $500 while working families can receive up to $6,000. Qualifying New Yorkers can even file retroactively for up to three years.

In addition to tax preparation assistance the city has kicked off an initiative to provide New Yorkers with basic, low to no-fee, bank accounts.

Information about this benefit is available in 11 languages. If you want to find out more about the EITC, free or discounted tax preparation locations or a basic bank account please call “3-1-1” or visit the city’s Web site at www.nyc.gov/eitc.