February 21, 2012 09:00 AM
By Bob Annibale, Citi Global Head of Microfinance and Community Development
It's tax season, and for millions of low-income taxpayers, tax refunds through the Earned Income Tax Credit (EITC) program provide a vital financial boost. Last year, hardworking individuals and families who filed their taxes received $59 billion in EITC refunds. Yet 20 percent of eligible taxpayers are still not claiming the EITC, leaving billions of dollars on the table that could be used to increase family savings, invest in small businesses, or meet college expenses. To ensure that as many families as possible benefit from the EITC, Citi Community Development (CCD) has partnered with a number of nonprofit organizations to develop a nationwide awareness campaign called Money Matters. Available in both English and Spanish, the Money Matters publication provides clear and concise information about qualifying for the EITC and raises awareness of free tax preparation services through the Volunteer Income Tax Assistance program of the Internal Revenue Service.
Please visit our website to learn more about this campaign.