ANNAPOLIS, MD (April 12, 2007) - Comptroller Peter Franchot joined Baltimore City Comptroller Joan Pratt and advocates from the Maryland and Baltimore CASH Campaigns today to reminded working families of the financial advantage of the state's biggest anti-poverty tool, the Earned Income Tax Credit.
"So far this year, taxpayers have claimed $152 million from Maryland's Earned Income Tax Credit and the state's Refundable Earned Income Tax Credit," said Comptroller Peter Franchot. "But thousands of Marylanders lose out on the benefit each year because they fail to claim it. This credit puts money back in the pockets of people who need it most and makes a real difference in their lives," he added.
The Earned Income Tax Credit (EITC) is a significant tool for combating poverty and helping working families in Maryland move toward financial self-sufficiency. Nationally, EITC provides more than $40 billion per year to 22 million working families, lifting 4.4 million Americans out of poverty. Last year, in Maryland, the federal EITC brought over $600 million to 340,000 working families, and the state-level EITC added another $150 million.
"It is essential that taxpayers who meet the thresholds claim the Earned Income Tax Credit that is rightfully due them," said Comptroller Joan Pratt.
Nationwide, the EITC distributes more money than either Temporary Assistance for Needy Families (TANF) or Food Stamps and, in combination with the smaller Child Tax Credit, is almost as much as both these programs combined.
"The Earned Income Credit has helped me get out of debt, allowed me to buy a reliable car to get to work and made it possible for me to provide for my family, particularly my son who has cerebral palsy," said recipient Teffany Horne.
"The EITC rewards work over welfare and provides the necessary additional income to help make entry-level jobs a viable alternative to welfare," said Jennifer Williams, Coordinator of the Maryland CASH Campaign.
The campaign runs a statewide EITC outreach campaign and has free tax preparation sites serving 11 jurisdictions statewide. Taxpayers in Baltimore and statewide can get information about EITC eligibility and free tax prep site locations, by calling the 2-1-1 hotline, United Way's First Call for Help (also at 1-800-492-0618), or by visiting www.marylandcash.org.
Free, state tax assistance is available at all of the Comptroller's 12 taxpayer service offices, Monday through Friday, 8 a.m. to 5 p.m. Extra hours of assistance will also be provided on Saturday, April 14, from 9 a.m. until 1 p.m., and on Tuesday, April 17, from 8 a.m. until 7 p.m.
Taxpayers can also download state tax forms, find helpful information and even check on the status of their state refund when visiting the Comptroller's Web site at www.marylandtaxes.com. Taxpayers can also call 1-800-MD TAXES for free state tax help Monday through Friday, from 8 a.m. until 8 p.m. through April 20.
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CONTACT:
Christine Duray, Comptroller's Office
410-260-6346 (office), 443-336-0215 (cell)
Jennifer Williams, Coordinator
Maryland CASH Campaign - Creating Assets, Savings and Hope
Phone: 410-752-7588, ext 226; Cell: 410-371-4211
