Sag Harbor - The Earned Income Tax Credit (EITC) is often overlooked and undervalued, which is why Fred Thiele is encouraging hardworking East End families to claim it before the April 15 deadline to file 2009 taxes. Each year, an estimated 300,000 eligible New York households - a whopping 20 percent of eligible taxpayers – never claim the EITC.

Thiele says "Most of those families who don't claim the tax credit don't realize the benefit. This is a tax credit that offers truly significant savings for eligible families. The EITC gives families a chance to meet day-to-day expenses and save for their futures."

"The EITC was instituted to offset Social Security taxes for low-income workers. The Assembly championed the establishment of a state EITC, and in 2002 increased it to 30 percent of the federal credit. The state credit can bring the total state and federal savings up to $7,354 for eligible families."

Taxpayers with adjusted gross incomes below the following limits may be eligible for the EITC:

 • $43,279 ($48,279 married filing jointly) with three or more qualifying children.
 • $40,295 ($45,295 married filing jointly) with two qualifying children.
 • $35,463 ($40,463 married filing jointly) with one qualifying child.
 • $13,440 ($18,440 married filing jointly) with no qualifying children.

"In an economy like this, these tax credits go a long way toward paying for all the little things that add up, and it is vitally important that we do all we can to help struggling families stretch budgets and make them aware of their eligibility. This tax credit not only helps families pay bills, buy clothing and maintain their homes, but it also provides a boost to local economies during tax refund season."

To learn more about the federal EITC and eligibility, go to www.irs.gov. For information on New York taxes and the state EITC, go to www.tax.state.ny.us.