More than $11 million in refunds received last year in Hillsborough and Pinellas Counties.

TAMPA BAY – Tuesday, March 10, 2009 -- If you earned less than $42,000.00 last year, you may be in for an economic stimulus package all your own.

It’s called the Earned Income Tax Credit (EITC), and low- to moderate- working families and individuals may be eligible for up to $4,800.00.

Even better, they can get free help from volunteers certified by the IRS in preparing their taxes.

The free tax assistance program is receiving a boost thanks to a Wal-Mart Foundation grant received by United Way of Tampa Bay.

"Many residents are unaware of the tax credits they qualify for," said Margaret McKenna, president of the Wal-Mart Foundation. "Through this Wal-Mart Foundation grant, we are able to help eligible consumers take advantage of tax credits, and provide them with opportunities to save money on tax preparation fees."

United Way of Tampa Bay is using the grant to get the word out about the free tax preparation assistance and the availability of EITC. Nationally, the IRS estimates that approximately 20 percent of eligible individuals and families are unaware that they qualify for the EITC.

Emery Ivery, United Way of Tampa Bay Vice President of Community and Partnership Development, is grateful for the grant. "We especially want to reach people who are using our free tax preparation sites for the first time," he said. "Working families who have paid to have their taxes done, and possibly paid extra to get their refunds faster, may find that going through our sites helps them keep more of their hard-earned dollars. They get their taxes done free, and our tax preparers are trained to spot areas where the EITC applies and make sure tax payers get the maximum refund on the money they’ve earned."

Free tax preparation is available at 37 sites in Hillsborough and Pinellas Counties. The service is offered by the Prosperity Campaigns of Hillsborough and Pinellas, a partnership between United Way of Tampa Bay, Hillsborough County Health and Social Services, Children’s Board of Hillsborough County, Juvenile Welfare Board, IRS, Wealth Building Coalition, Bank of America, Wachovia, Suncoast School Federal Credit Union and Tampa Bay Workforce Alliance.

To find the location nearest you and what you should bring, visit www.unitedwaytampabay.org. Eligibility requirements for the EITC are:

• Families with two or more children who earn less than $38,646 in 2008 (or less than $41,646 for married workers) are eligible for a credit of up to $4,824.
  
• Families with one child who earn less than $33,995 in 2008 (or less than $36,995 for married workers) are eligible for a credit of up to $2,917.
  
• Workers without a qualifying child who earn less than $12,880 in 2008 (or less than $15,880 for married workers) are eligible for a credit of up to $438.

Another refund sometimes overlooked is the Child Tax Credit, which is up to $1,000 per qualifying child. The Additional Child Tax Earnings Threshold is $12,050 in 2008.