Delaware State Treasurer Jack Markell announced this week that the seventh annual Earned Income Tax Credit (EITC) campaign generated $1,906,502 million by providing free tax preparation and financial products for 1,360 participants from the Georgetown area who participated in this year’s effort at the DelTech Owens Campus, First State Community Action Agency, and the Georgetown Public Library.
The refunds include $439,729 received by low-wage taxpayers who claimed the Earned Income Tax Credit on their 2007 federal returns.
Statewide, the annual EITC campaign promoted by the treasurer’s office generated $19.2 million to 14,300 working Delawareans, a significant increase over last year.
"In these tight economic times for Delaware's families, I'm delighted to announce that the 2008 EITC campaign has put more than $19 million in refunds back where it belongs — into the pockets of working Delawareans," Markell said.
"This campaign is reuniting these families with what is already theirs, and I'm pleased that this annual effort has returned so much to so many."
The federal EITC is widely regarded as the nation's most effective program at lifting working families out of poverty. The net effect that is if a worker makes $7.00 per hour and claims the full credit, that it essentially increases their hourly wage to $9.00.
"Each year, the EITC program helps more and more hard-working Delawareans, but we have to go further," Markell said. "The bottom line is that the state EITC needs to be made fully refundable, which will promote work for more Delaware families."
The EITC Campaign, which is coordinated by Wilmington-based Nehemiah Gateway Community Development Corporation and its founder Rev. Clifford Johnson, is supported by a wide coalition of community, business and faith based organizations, and promotes work by increasing the incomes of low-wage workers through a refundable federal tax credit. The EITC is available to households with incomes at or below $40,000.
The refundable credit can total up to approximately $4,500 annually, depending on income and the number of children in the family.
Mary Dupont, Executive Director of the Nehemiah Gateway Community Development Corporation added, "This is a true Delaware effort in the way that the entire community comes together to make it work. With the support of our many partners and volunteers we are able to provide financial and tax services to thousands of Delawareans throughout the state. Next year we hope we can do even more by being open for longer hours with the support of more volunteers."
More than 450 volunteers at 22 locations across Delaware volunteered long hours to prepare the taxes, open savings accounts, certificates of deposit and savings bonds and to link those eligible to other services, such as state benefits, financial education and other community services. In addition, the Campaign helps the community to learn about their credit history by providing tax customers with free scored credit reports upon request.
"Improving Delawareans' financial lives has been a major priority of mine over my past ten years at State Treasurer," Markell said. "The EITC program has assisted thousands of Delawareans in understanding and receiving what is rightfully theirs, just as the Bank at School program has taught critical savings skills to so many schoolchildren and the Delaware Money School has educated Delawareans on numerous financial literacy topics."
To learn more about the EITC or to become a volunteer for next tax season's campaign, please call the Nehemiah Gateway Community Development Corporation at 655-0803.
GEORGETOWN, DEL. —
