tax credits for working families
The Piton Foundation considers tax credits, especially the federal Earned Income Tax Credit an important tool for increasing the economic self-sufficiency of lower-wage workers. Research shows that the EITC lifted 4.4 million U.S. families out of poverty in 2003. The EITC has been found to produce substantial increases in employment and reductions in welfare among single parents.
Piton's Tax-Credit Initiatives
Tax Credits for Working Families Campaign
The Piton Foundation has conducted the Tax Credits for Working Families Campaign for 20 years. The primary goal is to increase the number of eligible families in Colorado receiving the Earned Income Tax Credit, as well as other tax credits aimed at helping lower-income families. Nearly 300,000 Colorado families receive EITC refunds totaling $500 million each year. Read More
Tax help colorado
Tax Help Colorado is a program that uses colleges -- primarily community colleges -- to provide free income-tax return preparation to lower- and moderate-income working families in Colorado. In its third year, students at nine colleges prepared tax returns from 4,086 taxpayers, with refunds totaling more than $8.3 million in the 2010 tax season. Read More
All About the Earned Income Tax Credit
The Earned Income Tax Credit (EITC) is a federal tax credit that helps low-income working families help themselves. It rewards low- and moderate-income families for their hard work and helps them close the gap between what they earn and what they need to get by and get ahead. Columbia University's National Center for Children in Poverty found the EITC reduces poverty among young children by nearly 25%.
The EITC can make a significant difference for hardworking families. For tax year 2010, the EITC is worth as much as $5,666 to families. For example, a single parent raising two children and earning $12,200 is eligible for an EITC refund of $5,036, a 41% increase in family income. Many qualifying families also were eligible for the Child Tax Credit, as much as $1,000 per child.
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2010 Tax Year Promotional Materials
Materials for tax year 2010 will be available in November. Download a poster, flyer, or brochure (all available in English or Spanish) to distribute to your clients or employees. Also, use the web banner, e-mail and sample newsletter copy to promote tax credits designed to help working families. Printed copies of materials are available at no charge by calling 303-825-6246.
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Tax Return Filing Options
Don't pay more than you have to for filing your taxes.
Employers: Help Your Workers Get Their Tax Credits
Some of your employees may be eligible to receive the Earned Income Tax Credit. You can increase your employee's earnings without any cost to you! Read More
Non-Profits: Help Your Clients Get Their Tax Credits
The Earned Income Tax Credit helps struggling families make ends meet. Many of the same clients you serve could benefit from the additional dollars this credit provides. Read More
More Tax Credits for Working Families
In addition to the Earned Income Tax Credit, other federal tax credits that help lower-income working families, include the Child Tax Credit, Child and Dependent Care Tax Credit, Saver's Tax Credit, and education tax credits including the Hope Credit and Lifetime Learning Credit. Read More
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