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Many of you may already be aware of this tax information, but your students might not. Here’s an easy-to-read flyer sent to us by the State Libraries in Sacramento that you may want to share with your student.
The Earned Income Tax Credit (EITC) is a refundable credit for working low- and moderate-income individuals and couples, particularly those with children.
The Child Tax Credit (CTC) is a tax credit that can increase the tax refund for families with children under age 17.
According to the National Community Tax Coalition (NCTC), which produced this flyer, the two tax credit programs allow qualified low- and moderate-income workers and families to keep more of their income. The NCTC says research shows a close link between family income and later outcomes, and increasing a family's income by $3,000 annually over the course of several years can boost children's achievement significantly.
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