Show 0 1 Millions Millions' Ml t lions lions' miss chance for in cash It now appears that up to low Income families are missing the chance to claim their Earned Income Credit and as a result are missing out outon outon outon on getting a Federal government government government govern govern- ment check for as much as How could this happen According to Elizabeth Taylor manager of HR Block Inc the nations nation's largest income tax preparation firm it is because those eligible for this windfall never learned about it and that most of the eligible did not have to file a tax return for 1975 because their incomes didn't reach the minimum filing requirements The biggest part of this problem of several million families not getting funds to which h they are legally entitled is that the credit can only be received by filing a Federal income tax return Mrs Taylor said THIS TillS UNUSUAL benefit for forthe forthe forthe the low income wage earner is isone isone isone one of the provisions of the Tax Reduction Act of 1975 the same legislation that produced last years year's tax rebate Mrs Taylor pointed out that the IRS as well as her firm worked hard to create an an awareness of the Earned Income Credit The Internal Rev Revenue nue Service produced an outstanding campaign this year to inform the public of this credit I wish we knew why people didn't respond Elizabeth said The Earned Income Credit gives those who qualify a 10 per percent percent percent cent refund or credit against taxes owed on on the first of earned income salaries wages tips and net self- self employment income When earned income is over the credit is reduced by 10 per cent of the excess over So the largest amount that can be paid is and there can be no credit when earned income exceeds INDIVIDUALS WHO can answer yes to two key questions probably qualify y 1 Was your your adjusted gross income as well as your earned income less than 2 Did you maintain a household in the United States during all of 1975 for yourself and one or more dependent childrel childred children who Y were under 19 IU K years of of 01 age or full rull time student It is important to know that itis it itis itis is not not too late to file file a a tax return even though the only reason is to claim the E Earned Income Credit As long as there are no tax taxes s due there is is no penalty for filing after April 15 Elizabeth Taylor noted Uncle Sam wants everyone to have this extra money they are re entitled entitled entitled en en- titled to Anyone who thinks they may qualify for this special credit can can find out for sure by contacting contacting con corr the Internal Revenue Service or HR Block Both are are open all year |