FOR IMMEDIATE RELEASE
Thousands of Working DC Families Could Overlook Valuable Tax Credit
Free Tax Preparation is Available to Assist Lower-Wage DC Residents
Washington, DC – January 14, 2015 – Capital Area Asset Builders (CAAB) is pleased to announce its partnership with Community Tax Aid (CTA) to manage the DC Earned Income Tax Credit Campaign.
The DC EITC Campaign is a citywide, cross-sector initiative that promotes economic security and asset building for low- and moderate-income individuals and families by providing access to information on the Earned Income Tax Credit (EITC), free tax preparation services and capacity building opportunities throughout Washington, DC.
“The EITC is one of the most effective policy tools for lifting Americans out of poverty. In the District of Columbia, the EITC puts money back in the pockets of working individuals and families, strengthens neighborhood businesses and boosts the local economy,” said Rich Petersen, CAAB’s Executive Director.
Individuals with income under $35,000 and families with income under $53,000 can benefit from the free tax preparation services. The DC EITC Campaign will run 6 tax sites throughout Washington, DC from early-February to mid-April. Information on location and business hours for free tax services are available on http://bit.ly/1xm8gHF.
In 2014, over 54,000 lower-wage DC families claimed and received the Federal and District of Columbia EITC. “This translated into over $175 Million benefiting low- and moderate-income working District residents,” said Teresa Hinze, CTA’s Executive Director. “This money can make a real difference to workers, particularly when they’re struggling in this recovering economy.”
It is estimated that as many as 11,000 lower-wage DC residents are still not claiming the EITC. “It is the goal of CAAB and CTA to ensure working DC families do not overlook this valuable tax credit,” said Petersen and Hinze. “We look forward to working with multiple partners in DC to promote awareness of the EITC and of our free tax preparation services.”
The goals of the DC EITC Campaign are to: 1) Promote awareness of the Federal and DC Earned Income Tax Credit to ensure that eligible workers know how to claim the credits; 2) Educate taxpayers about numerous Federal and DC tax benefits; 3) Provide opportunities for free tax preparation for qualified DC residents; and, 4) Connect taxpayers with programs and services to improve financial stability.
The DC EITC Campaign receives financial and technical support from the Government of the District of Columbia, United Way of the National Capital Area, Citi Community Development, Washington Area Women’s Foundation as well as other business and non-profit organizations in Washington, DC.
For more information on the DC EITC Campaign please contact Joseph Leitmann-Santa Cruz, CAAB’s Director of External Relations, by phone at (202) 419-1440 x 102 or by email at jleitmann-santacruz@caab.org.
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About Capital Area Asset Builders (CAAB)
Capital Area Asset Builders (CAAB) is a not-for-profit organization working to empower low- and moderate-income residents of the Greater DC area to take control of their finances, increase their savings and build wealth for a better future.
For further information on CAAB, please visit www.caab.org and follow us on Twitter at @CAAB_GreaterDC.
About Community Tax Aid, Inc. (CTA)
Community Tax Aid, Inc. is a not-for-profit that provides high-quality, full-service federal and state income tax preparation and representation services at no charge to low-income individuals and families in the Washington, DC metropolitan area.
For further information on CTA, please visit www.communitytaxaiddc.org.
