JERSEY CITY, NJ--(Marketwired - Jan 26, 2016) - Jackson Hewitt Tax Service®, the fastest-growing full-service tax preparation company, will focus tax preparers nationwide on raising awareness of the Earned Income Tax Credit (EITC). Each year 20% of eligible workers fail to claim this credit, missing out on millions in refunds. January 29 will mark the 10th anniversary of EITC Awareness Day, a nationwide effort to increase awareness and encourage those who are eligible for this tax credit to claim it. In support of this effort, Jackson Hewitt® will focus its nearly 25,000 tax pros across 6,300 locations to take this message outside of their offices and into local communities across the country.
"The Earned Income Tax Credit makes a big difference in the lives of our hardworking clients. Yet, one in five people are missing out on a credit of up to $6,242 because they don't know they qualify," said David Prokupek, CEO of Jackson Hewitt. "We urge them to visit a tax professional and determine if they are eligible, and are using both social media and face-to-face word of mouth to spread this message."
The EITC is a federal tax credit based on an individual's employment status, income and number of qualifying children. One-third of the EITC-eligible population changes each year based on parental and financial status, which is why many Americas do not realize that they qualify for this credit. Additionally, individuals who are not required to file a tax return based on income level may be eligible for both a tax refund as well as the Earned Income Tax Credit, but must file a return to claim it.
The IRS has nearly $1 billion in tax refunds waiting to be claimed and allows taxpayers a three-year window for filing federal tax returns. By visiting Jackson Hewitt, clients can determine if they were eligible for the credit from 2012, 2013 and 2014, and claim the credit if they failed to do so the past few years.
To qualify for the EITC, taxpayers must be employed or self-employed and have a Social Security number. They will need to have less than $3,400 in investment income and have adjusted gross income lower than the following amounts:
Filing Status | No Children | 1 Child | 2 Children | 3+ Children | |||
Single, head of household, or qualifying widow(er) | $14,820 | $39,131 | $44,454 | $47,747 | |||
Married filing jointly | $20,330 | $44,651 | $49,974 | $53,267 |
To determine if you qualify for the EITC or to find a Jackson Hewitt location, visit www.JacksonHewitt.com or call 1-800-234-1040.
About Jackson Hewitt Tax Service Inc.
Jackson Hewitt Tax Service Inc. is the fastest-growing full-service tax preparation company, with a mission of offering its hard-working clients access to simple, low-cost solutions to manage their taxes and tax refunds. With more than 25,000 Tax Pros, Jackson Hewitt is devoted to helping clients get ahead with Maximum Refund and 100% Accuracy Guarantees. Jackson Hewitt is convenient, with approximately 6,300 franchised and company-owned locations, including 3,000 Walmart locations, and online and mobile tax solutions. For more information about products, services and offers, or to locate your neighborhood Jackson Hewitt office, visit www.JacksonHewitt.com or call 1 (800) 234-1040.
Contact Information:
Contact:
Elizabeth Sedlock
(636) 699-9554