The city is urging New Yorkers to claim the new Child Care Tax Credit when filing their taxes this season.
More than 50,000 New Yorkers claimed the credit last year, the first year the city credit was available. Mayor Michael Bloomberg’s office says the average refund was $600.
Residents who earn $30,000 or less and pay child care expenses for children age three and under may qualify for the credit.
The mayor is urging families to call the city’s information hot line, 311, to find out more information.
“Our Child Care Tax Credit is a successful program that is part of our larger anti-poverty strategy,” said Mayor Bloomberg. “Coupled with the Earned Income Tax Credit, the refund can be significant and help move hard-working New Yorkers up the economic ladder. Particularly during these tough economic times, all eligible families should be sure to apply so they can receive the money they deserve.”
“The City is pulling out all the stops to make sure New Yorkers know about and claim every tax credit they have coming to them,” said Consumer Affairs Commissioner Jonathan Mintz. “There’s only about one month left to go get Child Care Tax Credits, Earned Income Tax Credits, and more. Call 311 and ask if you qualify and where to get your taxes done for free or very low cost.”
This year, as a safe and affordable alternative to professional tax preparation services, the City expanded its Tax Prep Plus program to offer professionally-prepared tax returns by a Tax One professional for only $20 at 12 community-based organizations throughout the five boroughs. Families earning less than $55,000 and individuals earning less than $30,000 qualify. Tax Prep Plus sites will not offer refund anticipation loans and other predatory products to their customers, ensuring that consumers get every penny of their refund.
New York City residents with dependents and who earn less than $45,000, as well as individuals who earn less than $20,000, are also eligible for free income tax preparation at one of the city’s 54 Volunteer Income Tax Assistance (VITA) sites. Volunteers at the VITA sites will help residents file for the tax credits for which they qualify including the Earned Income Tax Credit and the New York City Child Care Tax Credit. In 2007, New Yorkers claimed approximately $2.14 billion in total earned income tax credits. VITA sites helped more than 82,000 New Yorkers obtain an average Earned Income Tax Credit refund of $2,600.
(Shmuel Charvona – YWN Shushan)
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One Response
Next year, in order to save money,ALL tax collectors,toll collectors,meter maids will be laid off due to budget CRISIS. Right now, the expenses of paying these people is more than the revenue coming in. Instead, payments of tax refunds will be sent to all residents so that the economy can start going.