Denver Asset Building Coalition

Description

The Problem: Even with a steady job, many working families are struggling to make ends meet. They may be stuck in low-wage jobs due to their education status or past work history. In addition to having limited income, many of these families are not connected to the financial mainstream. Some don't have bank accounts, others may be in debt or have bad credit, and many don't own a home. The

Solution: The Earned Income Tax Credit (EITC) is a powerful work incentive and antipoverty tool that has benefited millions of low-income families since its inception. The EITC is a refundable credit offered through the Internal Revenue Service to working families that can increase refunds by thousands of dollars. National estimates indicate that approximately 15% of eligible families do not claim the EITC. Some don't think they are eligible. Some families may feel that since they owe too little to have to file that there is no benefit to them filing at all. Education and outreach are crucial to these families.