Earned Income Tax Credit publicized for disadvantaged
United Way of Greater Los Angeles
LOS ANGELES, Calif.—A group headed by the United Way of Greater Los Angeles began a campaign to spread the word that qualified low- and moderate-income families are eligible for a tax credit of up to $5,666 on their 2010 federal income taxes.
The Earned Income Tax Credit "is a vastly under-utilized benefit, with up to 20 percent of eligible taxpayers leaving $250 million in credits on the table," said Elise Buik, president and chief executive of United Way of Greater Los Angeles.
"At the same time, costs for basic needs like housing and food are on the rise," Buik said. "There are approximately 800,000 taxpayers in L.A. County alone that qualify for EITC.''
This year's goal of the Greater Los Angeles Earned Income Tax Credit Campaign Partnership, which is supported by the city and county, Citibank and the Internal Revenue Service, is to get 10 percent more people to apply for tax credits, Buik said. That would would bring 41,000 area residents into free tax sites to obtain assistance in claiming more than $38 million in total refunds, she said.
Nationally, The Bank of America Charitable Foundation and The Walmart Foundation support an effort to drive public awareness about the tax credit and other services provided by the participating organizations.
For the 2010 tax year, families with three or more qualifying children who earn less than$48,362, or $43,352 for a single parent, are eligible for up to a $5,666 refund, which is equal to nearly two months of income for many families.
Families with two children who earn less than $45,373, or $40,363 for a single parent, are eligible for up to $5,036; families with one child who earn less than $40,545, or $35,535 for a single parent, are eligible for up to $3,050; and married workers, ages 25-64, who earn less than $18,470, or $13,460 if single with no children, are eligible for up to $457.
LOS ANGELES, Calif.—The owner-operator of a Commerce medical clinic was sentenced to one month behind bars, followed by nine months under home detention, for failing to report to the Internal Revenue Service nearly $90,000 he received as income, prosecutors said today.
Dr. James Lemus, 58, of Shadow Hills was also ordered Monday to pay a fine of $15,000, according to Assistant U.S. Attorney Mark Williams.
LOS ANGELES, Calif.—A senior attorney with U.S. Immigration and Customs Enforcement received a 212-month prison term today for taking nearly $500,000 in bribes from immigrants who were promised benefits allowing them to remain in the United States.
ICE Assistant Chief Counsel Constantine Peter Kallas, 40, of Alta Loma, was also ordered to pay $296,865 in restitution for fraudulently receiving workers' compensation benefits, according to the U.S. Attorney's Office.
Right now, the Internal Revenue Service (IRS) is preparing for this year’s tax season and an estimated 140 million individual tax returns. Eager tax filers will be tempted to use one of the temporary neighborhood business locations that open their doors each year in the name of convenient and quick tax preparation. But, as with many quick cash offers, a significant cost is incurred for services marketed as either Refund Anticipation Loans (RALs) or as Refund Anticipation Check (RACs).
LOS ANGELES, Calif.—More than 6,600 residents of Los Angeles and Orange counties have federal tax refunds waiting to be claimed, but Internal Revenue Service officials said today they don't know where to send the checks.
"We want to make sure taxpayers get the money owed to them,'' said IRS Commissioner Doug Shulman. "If you think you are missing a refund, the sooner you update your address information, the quicker you can get your money.''
Some students often complain that their pay is not enough, while others complain that the taxes withheld from their pay is a problem that leaves them living paycheck to paycheck.
The Internal Revenue Service (IRS) offers a few exemptions to qualified students that could add a little more money to paychecks.