Heart of Florida United Way (HFUW) is helping bring $350 million back into the local economy through the Earned Income Tax Credit (EITC) program. This is why HFUW is promoting EITC through its Prosperity Campaign of Central Florida, the organization’s new initiative to improve the financial stability of local families.
Established in 1975 by the Federal Government, EITC puts money back into the hands of hardworking people and is credited with lifting more children out of poverty than any other federal program – an estimated five million families per year.
Nearly $1 billion in EITC refunds have been claimed regionally over the past four years. In 2007 more than $350 million was claimed throughout Central Florida, yet the Internal Revenue Service estimates that up to 25 percent of eligible people failed to claim the credit because of lack of awareness. With an estimated one-in-four Central Floridians eligible to receive tax credits, the economic impact on individual lives, and on the community, is tremendous.
“Although you may not be aware of it, there is a whole division of the IRS dedicated to giving money away,” said Robert H. (Bob) Brown, President/CEO of HFUW. “They truly want to ensure everyone claims the tax credit they deserve, and we are happy to partner with them in that mission.”
For those who qualify, EITC refunds for tax year 2008 range from $438 to $4,824, which can make a huge difference for households struggling to survive in this difficult economy. Qualifying residents must have worked at some point during 2008 to be considered for the tax credit. Some residents may even be eligible to claim up to $14,000 by re-filing tax returns from the past three years.
Among other EITC qualifying factors, a residents’ income cannot exceed:
• $12,880 ($15,880 if married and filing jointly) if there is no qualifying child.
• $33,995 ($35,995 if married and filing jointly) if there is one qualifying child.
• $38,646 ($41,646 if married and filing jointly) if there is more than one qualifying child.
“At a time when many families and individuals can’t make ends meet, an additional $4,824 in
disposable income can make a huge difference,” said Larry Olness, HFUW Community Services Vice President. “Many people spend EITC dollars on basic necessities such as food and clothing, home and car repairs, medical treatment and other consumer goods or services that help boost the local economy.”
More than 30 free tax preparation sites have been established by the IRS Volunteer Income Tax Assistance (VITA) and AARP Tax-Aide programs throughout the region for low income residents to take advantage of free tax preparation and to find out if they quality for the tax credit. At these sites, residents can claim 100 percent of their tax refund quickly and easily – money is usually received in 10 days or less.
“The need is great, and the financial burden on our residents is even greater,” continued Brown. “We know this from the record number of calls coming into the United Way 2-1-1 & Elder Helpline. Last year was the busiest year ever with more than 115,000 calls – a 41 percent increase over 2007– and numbers continue to climb.”
United Way 2-1-1 & Elder Helpline offers free referrals to more than 2,000 local programs and services – including EITC. “Utility, rent and food assistance are the top three reasons people dial 2-1-1 – which tells a lot about the staggering need many families are currently facing,” Brown said. “And with so many Central Floridians dealing with job cuts and reduced wages, thousands more may qualify for EITC refunds this year.”
HFUW also provides many no-cost ways for businesses to get involved and help the growing number of residents in need. In conjunction with the IRS, HFUW offers free EITC informative sessions to further explain the program and helpful free materials in English, Spanish and Creole for employers to help employees take advantage of program benefits.
Recognizing the tremendous impact EITC dollars have on communities, the JPMorgan Chase
Foundation and The Wachovia Foundation are providing additional support by sponsoring the
Prosperity Campaign.
The City of Orlando has also partnered with HFUW and the IRS to maximize all of its resources
promoting the EITC benefits and free tax prep sites to both residents and employees. “We believe thousands of Orlando residents are missing out on EITC benefits because they’re unaware they exist,” said Mayor Buddy Dyer. “Especially during these tough economic times, it is more important than ever to use every tool at our disposal to equip our citizens with information like this that will save them and their family’s time and money.”
For businesses to schedule an EITC presentation or request outreach materials, please contact
Brittany Richards, EITC Manager, at (407) 429-2177 or email brittany.richards@hfuw.org.
For general information about the program, please visit www.hfuw.org, dial 2-1-1 or visit www.irs.gov.
About Heart of Florida United Way
Heart of Florida United Way is Central Florida’s most comprehensive health and human services
charity and the largest provider of funds to the region’s most critical health and human service
programs. The organization also operates United Way, 2-1-1 & Elder Helpline, Central Florida’s
community information and referral helpline; a Volunteer Resource Center; a Gifts In Kind Center; a Stewardship program that works with agencies to provide emergency assistance; and the Ryan White Part B program, which administers nearly $2 million to much needed HIV/AIDS services and referrals.
Heart of Florida United Way impacts more people annually than any other charity operating in the tricounty area, and partners with local businesses, government, other charities and individuals to increase awareness of local health and human service issues and to inspire hope, provide options and create possibilities for the people in our community. For more information visit www.hfuw.org.
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