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2007 Earned Income Tax Credit Campaign Launched Today
Wilmington, DE - Delaware State Treasurer Jack Markell, Delaware State Senator Margaret Rose Henry, and Wilmington Mayor James Baker joined with community and business leaders to launch the 2007 Delaware Earned Income Tax Credit Campaign.
The Earned Income Tax Credit (EITC) benefits families who earn less than $38,000 per year. The tax refund can be up to $4,500 per year, depending on family size and income. Credits include mortgage interest, childcare and education.
"The EITC can change a person's life, potentially increasing their hourly wages from, for example, $7 to $9," Mr. Markell said. "Many workers are entitled to these funds -- and what we're doing is connecting them with money that is essentially already theirs."
The Nehemiah Gateway Community Development Corporation, coordinator of the project, has trained over 425 volunteers to prepare taxes at 19 sites throughout the state.
"The EITC Campaign continues to alert people throughout Delaware just how easy it is to claim thousands of dollars to which they are rightfully entitled," said Wilmington Mayor James M. Baker. "This campaign is one of the most important public information efforts ever mounted in Wilmington, and throughout our State, so citizens will know about the Federal Earned Income Tax Program and how they and their families can benefit. Tell everyone you know about the EITC and urge everyone to come in for free assistance in preparing their tax returns which is another wonderful benefit of the EITC campaign."
For many low-income workers tax time is eagerly anticipated as a time when money will be flowing through their refunds. This year, in addition to Free Tax Preparation and Electronic Filing, the Tax Sites are adding on-site Financial Resource Centers to help taxpayers expand the "money moment" to have a more lasting and positive financial impact. An array of new services is being offered including the opening of savings accounts and Certificates of Deposits to help customers put a small portion of their refund away for a rainy day. Tax customers will also be able to receive a free copy of a scored credit report, a direct referral for credit counseling or repair, and a personal screening for eligibility of state benefits. Trained volunteer "Cash Coordinators" will work one-on-one with customers who wish to avail themselves of these new services. In addition, tax customers will receive referrals to community programs such as financial literacy workshops, matched savings and car loan programs. Organizers envision the tax sites as a one-stop shop for services and information that can help workers get the most our of the tax code and use their refunds as a doorway to financial opportunities.
Also this is the first year that Delawareans can now claim the new State version of the EITC that will reduce the amount that eligible Delawareans own on their Delaware state tax return. This non-refundable tax credit will greatly reduce, if not eliminate the state taxes of eligible families.
"I'm so proud that we now have a State EITC law on the books!" State Senator Margaret Rose Henry of Wilmington exclaimed. "This will help Delaware families to increase their net worth by putting more dollars back where it belongs - in their pockets -- to be used for important purchases or to pay bills."
"Last year's campaign brought more than $15 million back to over 10,500 working Delawareans," Mary Dupont, Executive Director of Nehemiah Gateway Community Development Corp. said. "We hope that this year's enhanced Campaign will increase choices and options for our customers who are interested in using their refunds to launch themselves up the economic ladder!"
For Free Tax Site times site times and dates of operation, and for more information, please call the Delaware Helpline at 800/464-4357.
