Earned Income Tax Credit

Income Tax

What Is Earned Income Tax Credit (EITC)?

Geared primarily towards low-to-middle income, working individuals and families, the Earned Income Tax Credit (EITC) is a federal benefit able to provide relief to those who meet specific criteria, by reducing the amount of tax owed and by increasing the amount of tax monies refunded, as determined after filing. Both single and married people can benefit from EITC, regardless of whether or not they have children or other dependents.


Tax Credits

Best Tax Credits And Deductions Everyone Should Know About

Don’t miss out on some valuable tax credits and deductions. Here are a few of the most commonly missed credits, which could end up saving you a bundle.


CT tax form 2012

Tax Filing Season Underway In Connecticut

Tax filing season has begun.  In Connecticut, Department of Revenue Services Commissioner Kevin Sullivan says the proess has started a bit earlier than the start of federal tax season. He says there aren’t many changes […]


Mitt Romney (Photo credit: NICHOLAS KAMM/AFP/GettyImages)

Opinion: Romney Denigrates 47% Not Paying Taxes As He Uses Loopholes Trying To Do The Same

Mitt Romney, if you want to talk about mooches and freeloaders that take advantage of the system then grow a spine and show America your tax returns. Let’s see what you really pay as a percentage. Let’s see what deductions you take. Let’s see how addicted to federal benefits you are.


Mitt Romney (Photo credit: NICHOLAS KAMM/AFP/GettyImages)

Opinion: Romney’s 47% Don’t Pay Taxes Remark Shows He’s Exactly Who We Thought He Was

The recently released tape of Romney speaking to donors at a closed door fundraiser has exposed Mitt Romney to, in fact, be the person Democrats have portrayed him to be: a rich, out of touch, arrogant man that has no respect or connection to the American middle class and absolutely no interest in making the American middle class stronger.


The state Capitol in Hartford. (Matt Dwyer/WTIC Photo)

Comptroller Projects Deficit; EITC Costing 20% More Than Budgeted

State Comptroller Kevin Lembo says Connecticut’s current fiscal year budget is projected to end with a $20.7 million deficit.


(Jessica Hill/AP Photo)

Victory For Malloy As State Enacts EITC

By STEPHEN SINGER,  AP Business Writer HARTFORD, Conn. (AP) _ Connecticut’s new earned income tax credit will provide needed financial help to as many as 190,000 low-income workers, supporters say. Critics dismiss it as welfare. […]