Press Releases
ABOUT 200,000 NEW YORKERS PAYING TOO MUCH IN FEDERAL INCOME TAXES
Queens, NY – An estimated 200,000 New York City residents are paying too much in federal income taxes, as they fail to take advantage of the Earned Income Tax Credit (EITC), according to estimates by non-profit organizations. To ease the tax burden on the Big Apple’s middle class and those struggling to make it, today Rep. Anthony Weiner (D-Brooklyn & Queens) encouraged his eligible constituents to sign up for the EITC, which could reduce a family’s tax burden by thousands of dollars.
Originally enacted in 1975, the EITC is a refundable tax credit that either eliminates or lowers taxes for hard working New Yorkers. In order to be eligible, a family of four must make less than $37,783 and a single person must earn less than $12,590 each year.
The tax savings under the EITC can be substantial, ranging from $428 for an individual to nearly $5,000 for an eligible family of four. And approximately 200,000 eligible Big Apple residents are failing to sign up for this valuable credit, according to The United Way of New York City.
“We have one of the highest tax burdens in the country,” said Rep. Weiner, “The earned income credit is a great federal program that puts New Yorkers’ hard earned tax dollars back in their pockets where it belongs.”
In addition to the federal credit, New York State and New York City also offer versions of the earned income credit.
In order to determine in you qualify, Rep. Weiner urges his constituents to contact the local IRS field office in Brooklyn at (718) 488-2068, or visit www.nyc.gov/eitc.
Congressman Anthony D. Weiner
