A Big Reason Why You May Want To File A Tax Return This Year

JACKSON, Miss. -- There is a tax credit you maybe able to claim that could get you a larger tax refund check this year, or even reduce the amount of money you have to pay back.

“But the only way you can get the Earned Income Tax Credit (EITC) is by filing a tax return,” said Dee Stepter, spokesperson for the IRS of Mississippi

Last year 405,000 Mississippi families filed for the credit and got a total of $1.8 billion. But Stepter says one in five people qualified for the credit, don’t claim it.

“One misconception that people have is that they have to have children,” she explained. But even if you don’t have kids, you can get up to a $475 credit. If you have children, Stepter says that credit could be close to $6,000.

Another group of people not filing for the credit are those who don’t make a lot of money. “A lot of low to moderate income tax payers may not have a filing requirement.”

But Stepter says you should file a return anyway. It’s the only way you can take advantage of the Earned Income Tax Credit.

Today is EITC Awareness Day.

A Big Reason Why You May Want to File A Tax Return This Year