Together, Creating a Financially-Stable Community
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Each year, over 10,000 low- to moderate-income households in Franklin County miss out on tax credits and refunds. That’s nearly $10 million that could help individuals and families in this community meet basic needs—money that would be invested in the local economy.
Considering that 20% of Franklin County households earn less than $21,000 annually—less than half of what’s necessary to meet basic needs—the Earned Income Tax Credit (EITC) helps bridge the gap between what people earn and what is needed to survive. It is designed to supplement wages and reward work—depending on income level, marital status and the number of dependent children, taxpayers earning less than $40,000 can claim the EITC and receive a refund up $4,800.
In October 2006, United Way of Central Ohio and Columbus City Council led a group of nonprofit, business and government organizations to form the Franklin County EITC Coalition. Its purpose is to raise awareness of the EITC, to provide free tax assistance services and to connect people to financial education and savings opportunities.
The Coalition has made an immediate impact in our community. In 2008, we served 3,152 individuals and families, an increase of 74% over the total number of people assisted in 2007.
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