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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.
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.
For Free Tax Site times site times and dates of operation, and for more information, please call the Delaware Helpline at 800-464-4357.