FOR IMMEDIATE RELEASE
January 26, 2012
Contact: Bryan Hubbard
Office of the Comptroller of the Currency Supports Earned Income Tax Credit Awareness Day, January 27, 2012
WASHINGTON — Acting Comptroller of the Currency John Walsh today issued the following statement recognizing Earned Income Tax Credit (EITC) Awareness Day.
EITC Awareness Day helps get the word out about a valuable tax credit that working families can receive and highlights where people can get help preparing their taxes for free.
Unfortunately, only one in five eligible Americans claim the EITC. The free tax preparation sites promoted on EITC Awareness Day can help more working families take advantage of this valuable tax break during a recovering economy.
National banks and federal savings associations around the country are commended for the work they do in their communities to promote the use of the EITC. By partnering with nonprofit organizations and government agencies, these efforts:
The OCC provides resources on the EITC at its web site at www.occ.gov. These resources include the Leveraging Earned Income Tax Credits to Reach New Bank Customers Fact Sheet. OCC’s District Community Affairs Officers are available nationwide to provide information about these and other initiatives to national banks and federal savings associations interested in promoting the EITC in their communities.
Created in 1975, the EITC is the federal government’s largest program for benefiting working families. It is a refundable tax credit for people who work, but do not earn high incomes. More than 26 million taxpayers received about $59 billion in EITC on their 2010 federal income tax returns.
# # #