MARIA'S EARNED INCOME TAX CREDIT (EITC) INITIATIVE
Our state is truly an amazing place to live and work and for communities to thrive. However, the reality is that there are many working families who struggle day-to-day to make ends meet. An October 2005 study by the Brookings Institute found that four of the twenty poorest cities in our country are in California and more devastating is the fact that one in five children in our state lives in poverty. But there is good news—there is help and something can be done to drastically change these statistics. There are resources and services available that can be building blocks to a foundation for individuals and families in need. The Federal Earned Income Tax Credit (EITC) is an economic benefit that can mean real money for so many hard working families across our state. As First Lady of California, I want to help connect Californians to the EITC and I ask for your help in spreading the word about this important resource. Here’s what you need to know . . .
The EITC is the nation’s largest resource for working families. It’s designed to make work pay for those at the low end of the income scale. For those who claim it, it can bring up to $4,400 for those who need it most—working parents with children. The EITC also provides families with the best opportunity to save each year.
Unfortunately, up to 650,000 Californians who are eligible for this federal tax credit don’t claim it, missing out on almost a billion dollars in tax relief! California has one of the highest nonparticipation rates in the nation—this needs to change.
I am thrilled to be working with great leaders across California on a statewide effort to connect working families with this powerful resource as well as other key programs and services. Over the next four years, the EITC Initiative will focus on significantly increasing the number of people who learn about and claim their EITC. Families will also learn about how they can open-up a savings account and start on the path towards financial empowerment. The EITC not only helps working families climb the economic ladder, it also helps put money back into our communities and state’s economy.
Together we can create the change that our communities are waiting for.
You can file your taxes and claim the Earned Income Tax Credit online for free by visiting www.icanefile.org/myrefund
For more information 888/3MYREFUND or 888/369-7338
Para más información y ser transferido a un sitio de servicio, por favor llame:
866/9MIDINERO o 866/964-3463
Highlights of Maira's EITC Initiative
2007
- On the final stop of the EITC Tour in Oakland, many families came out to Laney College to claim their credit. Last year, Bay Area residents missed out on an estimated $75 million in EITC refunds. The resource fair and free tax preparation event on April 12 was held for residence leading up to the tax deadline, all in an effort to encourage more Californians to receive money owed back to them. The EITC is a powerful resource for working families by providing refunds as high at $4,500 for working parents who earn up to $38,348. These refunds lift more children out of poverty than any federal program.
- Visiting the El Camino Community College Compton Center was the third stop of the EITC tour on March 21. With Los Angeles as the nation’s third highest percentage of residents who lack bank accounts, participating bank and credit union partners were able to talk to residents who came out about their finances and help them open checking or savings accounts. That evening, Univision held an A Su Lado, promoting awareness of the EITC statewide. Californians were able to call into a live call center where they asked questions to learn more about the EITC.
- On February 28, Maria Shriver visited Fresno for a second year in a row to connect families to the EITC -- and more than 1,000 people attended! 25 agencies set up booths at the event, providing various services and information. The Fresno County Employment and Temporary Assistance was also there to provide Medi-Cal and other public benefits, while the Union Bank and Citibank were there to provide financial literacy materials. There were a total of 179 tax filings completed at the event. 91 were completed through the I-CAN! EITC program, for a total federal refund of $122,384 of which $61,157 was for Earned Income Tax Credit.
- Santa Ana College was the first stop of the statewide EITC launch on February 7, 2007. Hundreds of families came out to the resource fair, comprised of more than 70 organizations offering services and resources, including financial institutions educating individuals on ways to save and strengthen assets for financial independence. Families and individuals who visited took advantage of free tax preparation services and claimed over $125,000 in refunds—over $65,000 in the EITC refunds alone!
- By joining forces with Central California Legal Services and the Fresno County Economic Opportunity Commission on March 24, 2006, the first Earned Income Tax Credit (EITC) event resulted in nearly $30,000 in EITC money refunded to working families in need. This one-stop-shop event also provided families an opportunity to learn about and sign-up for other key services or programs.
- A second EITC event at the Southwest Senior Center in Santa Ana to encourage more families to sign-up for the EITC before tax deadline. With the help of the New America Foundation, Legal Aid Society of Orange County, United Way and the City of Santa Ana, many families were assisted, receiving a total of nearly $30,000 in EITC refunds.
- The total combined refunds in EITC money for both the Fresno and Orange County events reached nearly $60,000 for California working families.
