About 295-thousand lower-income taxpayers in Wisconsin are eligible for a certain tax credit, but up to 20-percent won't apply for it. The Earned Income Tax Credit helps Americans who work hard but need extra financial support to make ends meet. The IRS says more than 21.4 million taxpayers nationwide are starting the paperwork to claim the tax credit, potentially getting them as much as $4,500 in extra cash.
Christopher Miller with the IRS says this E-I-T-C is the federal government's largest benefits program for working families. However, he notes, a lot of families do not know that this is out there.
Most workers have received their W-2s by now, and the IRS receives the majority of all EITC claims during this month. Miller says that's why the IRS is calling attention to the benefit, as a reminder to taxpayers while they fill out their forms.