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Don't miss valuable tax credits on National Earned Income Tax Credit Day

Submitted

Fri, Jan 27th 2023 12:20 pm

Credits worth up to $11,097 are available to eligible New Yorkers

Submitted by the New York State Department of Taxation and Finance

On National Earned Income Tax Credit Awareness Day, the New York State Department of Taxation and Finance is urging taxpayers to review their eligibility for this valuable benefit.
When the federal, New York state, and New York City earned income tax credits are combined, they can be worth nearly $11,100 for a family with three or more children.

“The earned income tax credit, which puts money directly into the pockets of working taxpayers, can be a financial lifeline for those struggling to make ends meet,” Acting Commissioner Amanda Hiller said. “I encourage all those eligible to take advantage of this valuable benefit.”

The earned income tax credit (EITC) is a refundable credit for working taxpayers who earn less than $59,187. This means you get a refund if the credit amount is more than what you owe in taxes.

Every year, thousands of New Yorkers qualify for the EITC for the first time as their filing status or personal financial situation changes. For eligibility requirements, please see the Tax Department’s Earned income credit (New York State) webpage. For federal qualifications, see the IRS EITC webpage.

For more about the federal, state, and local earned income tax credits, including the value of available credits, see the Tax Department’s Get all the credit you deserve with EITC fact sheet.

How to Apply

You must file a personal income tax return to receive the credit, even if you don’t owe any taxes. E-filing is the easiest and safest way to file your return, as well as the fastest way to receive your refund.

If you’re eligible for the earned income tax credit, you’re most likely also eligible to take advantage of the Free File program. This program allows you to electronically prepare and file both your federal and New York state returns at no cost through the Tax Department website.

Hundreds of thousands of New York state taxpayers take advantage of this truly free service each year, saving them hundreds, if not thousands, of dollars in tax-preparation costs.

Free File is available in multiple languages: Spanish | ChineseRussianBengaliHaitian CreoleKoreanYiddishItalianArabicPolish

Not eligible to Free File? Learn about other e-file options.

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