Tax credit helps poor, but many unaware

News

Tax credit helps poor, but many unaware

Columbus Dispatch — From 1999 to 2007, the low-income population of the Columbus metro area – defined as individuals living in families with incomes below 200 percent of the federal poverty line – grew by about 27 percent in the primary cities, the Brookings report said. It jumped by nearly 33 percent in Columbus-area suburbs.

EITC filings overall increased by 49 percent during that period.

Although progress has been steady, many households still miss out on money they could easily claim. U.S. Sen. Sherrod Brown said the IRS estimates that 25 percent of eligible Ohioans did not receive the credit last year, a loss of $500 million.

The nearly 929,000 Ohioans who did claim the EITC received credits worth $2billion, with an average refund of $2,078, Brown's office said.

Read the whole article »