Group Reminds Northwoods Workers About Tax Credits

Mar 14, 2016

Credit www.aroundthetownhvac.com

A report by an advocacy group says Northwoods residents are leaving millions of dollars on the table during tax time.

Kevin Kane from Citizen Action of Wisconsin says residents in Oneida county alone could miss out on $1.3 million in Earned Income and Child Tax Credits if they don't claim it on their tax forms. Kane says one out of five tax filers don't claim the tax credit. Kane says these credits are one of the largest anti-poverty measures...

"....the biggest reason is people don't know or they assume they are eligible. It could be as much as $6,500 a year for a given family. In Oneida county is can average $1,800. I could certainly spend that in the local community...."

Kane says there are nearly 2,700 people in Oneida county eligible, in Vilas its nearly 1,800, and similar numbers in Lincoln and Langlade counties. He says the credits can turn into refunds, which in turn is spent in the local economy...

".....not only are they the biggest anti-poverty tool in the country, that both Republicans and Democrats support. You can actually get money back It's not that they lower your tax impact You can get money back. This is a huge important way to have working families make ends meet....."

Vilas county has more than $900,000 at stake, Langlade county about $850,000 and Lincoln county just over $1 million. He says more than 8,000 people are eligible in the Northwoods counties. He says the refund money is spent right in the local economy. Kane says a tax filer should assume that you will get money from these programs and see if you're eligible.

He says cities across the state are promoting the tax credit as they see a direct benefit to the local economies when people get these credits.