For hundreds of Central Iowa families, tax time does not represent a time for a possible refund, but yet another financial burden as they struggle to pay to get their taxes filed.
Fortunately, Mid Iowa Community Action has a solution for low and moderate income families. Free tax services located throughout the county are available.
The professionals who help prepare taxes are all aware of all the credits low and moderate income families can receive, including the earned income tax credit.
Iowa First Lady Mari Culver stopped by the MICA office in Marshalltown to promote the credit, which many families may not even know about.
"The IRS estimates that 20 to 25 percent of those eligible don't apply for it," Culver said. "Last year, Iowans may have left as much as $50 million worth of tax rebates on the table."
That money can be especially critical for young families.
Last year, MICA helped 172 filers with free tax services and obtained $344,000 in refunds for those individuals.
This year, some people have received more than $5,000 back from the federal government. Even if you may owe no taxes and do not need to file, Culver said it is still to your advantage to check it out.
"You may still be eligible for the tax credit, which is refundable," she said.
The state also has an earned income tax credit, though the benefit is not as substantial as that which comes from the federal government, according to Culver.
Overall, the purpose of the credit is to help offset Social Security taxes.
Arlene McAtee, director of MICA, said the tax services can provide a valuable service to those in need.
"What we know is this program can change lives for families because they are on such limited incomes," she said. "We've also found this money gets spent in the community. These aren't people who are likely to be taking long trips and spending the money other places."
For more information or to set up an appointment with a MICA tax preparer, call the United Way at 641-752-4688.
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Contact Ken Black at 641-753-6611 or kblack@timesrepublican.com
