ALBANY, NY — The New York State Department of Taxation and Finance and the Office of Temporary and Disability Assistance are encouraging New Yorkers to take advantage of the valuable Earned Income Tax Credit as part of EITC Awareness Day, a national effort sponsored by the Internal Revenue Service.
EITC benefits vary by income, family size, and filing status, but eligible families with three or more qualifying children making under the $52,427 limit could receive a maximum combined federal, state, and New York City credit of $8,293.
“Many New Yorkers still don’t realize they may qualify for the tax credit if they make $52,427 or less,” said OTDA Executive Deputy Commissioner Sharon Devine.
Every year, thousands of New Yorkers qualify for EITC for the first time as their financial, marital and parental statuses change.
In 2006, New York became the first state in the nation to enact a noncustodial parent EITC. The refundable credit is yet another way that New York encourages low-income noncustodial parents to work and stay current with their child support payments.