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IRS Encourages Earned Income Tax Credit -- SPECIAL HOURS ON SATURDAY
The Internal Revenue Service says a tax credit that's been around since Gerald Ford was president and is worth an estimated $49 billion nationwide, is one that more and more local residents need to take advantage of.

IRS spokesman Michael Devine says in Knox County alone, 43-hundred taxpayers received about two-thousand dollars apiece from the Earned Income Tax Credit in the last year -- the type of people that work hard, but may not make a lot of money.

Devine tells WGIL more people should be eligible for the EITC this year through a special category for those with larger families.

"If you made less than $49,000, and you've got three or more children, you might be eligible for a refundable tax credit of almost $5,700," Devine said. "Refundable credit means any credit will drop your tax bill dollar for dollar. A refundable credit, if your tax bill goes below zero, you're going to get a refund for the rest of it."

Devine says overall, nearly one in four people who are eligible for the earned income tax credit might never claim it, either because they don't know about it, or might not know how to claim it.

The IRS office in Galesburg at the Hawthorne Center, by the way, is providing free special assistance for those with difficult tax questions this Saturday from 9am to 2pm.
02 19 10 by Newsroom
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