Tax credit generates about $351 million for KC area taxpayers

02/17/2014 11:42 AM

02/17/2014 11:42 AM

About 156,000 Kansas City area residents received more than $351 million last year in earned income tax credits, the Internal Revenue Service said.

In Kansas, the earned income tax credit generated more than $473 million to about 211,000 taxpayers in 2013. In Missouri, more than 510,000 households claimed and received more than $1.1 billion, the IRS said.

The tax credit, which is aimed at low-income workers and families, helps offset the burden of Social Security taxes and also acts as a work incentive, the IRS said.

The IRS estimates that four out of five eligible taxpayers claim the credit, but some do not because they are either unaware or do not know how. Eligible taxpayers include individuals whoare self-employed or have service jobs in private households, childless taxpayers, rural residents, and recipients of public assistance such as food stamps.

For more information, go to

www.irs.gov/eitc

.

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