The importance of Earned Income Tax Credit (EITC) cannot be understated when it comes to poor and/or urban communities that sometimes find themselves to be financially challenged. The EITC is a refundable tax credit for working individuals and families who earns $54,000 or less a year. Tax season is always challenging whether you make $1
Tag: tax credits
Our new report, City Financial Inclusion Efforts: A National Overview, highlights the growing commitment of city leaders to address the financial challenges of their residents. (Getty Images) Mayors and other city leaders see first-hand how families in their communities are struggling to navigate today’s complex financial systems. They hear from residents regularly about how hard
Every Supreme Court tax case comes down to an argument perhaps most familiar to small children: “it isn’t fair.” The State and Local Legal Center (SLLC)/International Municipal Lawyers Association (IMLA) amicus brief in Comptroller v. Wynne, which NLC joined, argues that the tax policy choice the Maryland legislature made is fair (or at least fair
Taxpayers X and Y live in the same state and have the same income but Taxpayer X earns all of her income in-state while Taxpayer Y earns all of her income out-of-state. Taxpayer Y pays more in taxes because she pays income taxes out-of-state and pays a county income tax in her home state. Unfair?