(NAPSA)—David and Judy Brown spent 2002 juggling two full-time jobs and the schedules of their 4-year-old daughter and 10year-old son. With a combined G xcocee Publication 596 soe Sasmanl Ixcome Geadit (8583 For use in preparing 2002 Reums income of $28,450 and daycare costs, a mortgage payment and SN AS \S OG NISSEN S SANSSE. other monthly bills, David and Judy also juggled their finances. & m2 \ 4 When the Browns, along with millions of Americans in similar situations, prepare their taxes his year, they may learn they qualify for the Earned Income Tax Credit (EITC). The credit reduces the amount of Federal income tax owed by qualified low-income workers, who may receive the EITC as a refund. According to the IRS, during tax year 2001, approximately 19 million working individuals and families claimed the EITC. Depending on their income, single and married people who worked full or part time for at least part of 2002 may qualify for the EITC. After preparing their taxes, the Browns owedthe IRS $500. Because they have two children and meet the incomerequire- ments, they qualify for an EITC of $1,212. The credit eliminates the additional taxes they owe and gives them a refund of $712. “The Harned Income Tax Credit was created to help people who work in low-paying jobs by offsetting tax burdens and living expenses,” said Susan Boehmer, TRS national EITC program manager. “Every individual and family who qualifies for the credit ought to claim it.” If you were employed for at least part of 2002, you may heeligible for EITC, based on these general guidelines: * You earned less than $12,060, were not raising children, and were between the ages of 25 and 64 on December 31, 2002. * You earned less than $30,201 and were raising one child in your home. * You earned less than $34,178 and were raising more than one child in your home. For more specific qualifications and earned income levels if married filing jointly, check IRS publication 596, which offers ehgibility requirements and instructions on how to claim EITC. To receive a copy in English or Spanish, call 1-800-TAX FORMS(1-800-829-3676), visit www.irs.gov/eite, or inquire at post offices and libraries.
