This year, the Earned Income Tax Credit (EITC) can help working families make ends meet with a credit of up to $6,660.
EITC is designed to help compensate hard-working families whose wages are too low, while also providing economic stimulus to our state. In 2020, 33,000 Vermonters received an average of $2,100 from the credit, which comes in the form of a federal income tax refund.
Additionally, any family with dependent children who receives the Vermont EITC is automatically income-eligible for food benefits through 3SquaresVT, meaning that it might be easier to enroll in the program and get additional money to buy food.
Every year, Vermont residents miss out on thousands of dollars in savings and added benefits because they are unaware of EITC or its link to 3SquaresVT. At a time when many people are experiencing economic hardship due to COVID-19, the EITC can go a long way in supporting families.
“Make sure you claim the EITC you earned - this tax credit can be more than all your pandemic stimulus checks combined,” Hunger Free Vermont Executive Director Anore Horton said in a news release.
Horton said the EITC also opens the door to more healthy meals for families with children.
The average monthly 3SquaresVT benefit for a working family with children exceeds $500. Children who receive a 3SquaresVT benefit amount also qualify for free school meals.
Also, research indicates that children in EITC and 3SquaresVT households have better health and education outcomes as well.
Vermonters making less than $56,844 should see if they qualify, which families can determine based on either their 2019 or 2020 income information.
To find out if you qualify for the program, call the IRS at 800-829-1040, or use the online EITC Assistant tool at irs.gov. For free help preparing your taxes, dial 211 to make an appointment in your community with a certified volunteer.
For more information, visit vermontfoodhelp.com.