Another tax season has come and gone… but for many Californians, there are still options on the table to put a little extra money in their pocket, specifically by claiming their Earned Income Tax Credit (EITC).
This year, the California Earned Income Tax Credit, or CalEITC, was expanded to encompass more taxpayers than ever before, including working adults age 18-24 and 65+ without dependents. Around 2 million Californians are eligible, but only about 1.5 million have actually claimed their credit.
But if you’re one of the taxpayers who has left money on the table, take heart: There’s still time to claim that credit!
Who Can Claim the EITC?
There is a federal EITC program, which provides a little assistance to taxpayers making under $55,000 annually. Meanwhile, individuals and families making less than $24,950, including those who are self-employed, can also claim the CalEITC. This supplemental credit was expressly designed to help working families.
To claim these credits, you just have to do one thing: File your taxes. And those who don’t have a tax liability may do this at any time and in any season. Plus, free tax filing assistance is still available to make sure you claim these credits and get that extra money in your pocket. That’s what OC Free Tax Prep is all about.
Incidentally, if you have already filed but feel like you missed out on claiming the EITC, you can file an amendment—it’s called the Form 540x. This lets you claim credits you may have missed, going back up to three years!
Claim Your EITC TODAY
A lot of taxpayers are just glad to have the filing season behind them—but if you’ve left money on the table, you may want to revisit your return and make things right. Some free tax prep assistance sites are still open after Tax Day, or you can file online FOR FREE from the comfort of your own home. Visit https://www.myfreetaxes.org/ for more information and resources. OC Free Tax Prep is happy to provide assistance to eligible taxpayers throughout the greater Orange County area.