April 30, 2013

Policy Briefing Recap: Helping Working Families Make the Most of Tax Time

On April 29, 2013, CCC held a policy briefing about how tax credits help low-income families and efforts the City and non-profit organizations make to help families access these credits. Speakers discussed the Earned Income Tax Credit (EITC) and the Child Care Tax Credit (CCTC), and how these credits have helped address poverty in New York City.

At tax time, refundable tax credits targeted at low-income wage earners, such as the EITC and the CCTC, provide many working families with the opportunity not only to pay their bills, but also to make much-needed purchases for their children and to save for the future. Panel participants described how the credits work, how much money low-income families can receive, and the work they do to ensure New Yorkers are aware of the credits to which they are entitled. Panel participants also discussed programs and services that families can access for free or low-cost tax-preparation assistance.

The panel was comprised of experts from the New York City Center for Economic Opportunity, the New York City Department of Consumer Affairs Office of Financial Empowerment, and the Food Bank for New York City’s Tax Assistance Program.  Specifically, the speakers included:

• Christine D’Onofrio, Senior Research Associate, Center for Economic Opportunity, New York City
• Tamara Lindsay, Director of Programs, and Erika Van Gundy, Program Associate, NYC Department of Consumer Affairs Office of Financial Empowerment
• German Tejeda, Senior Director of Tax Services, the Food Bank for New York City

To learn more about how tax credits, income supports, and other factors influence the poverty rate in New York City, you can download the CEO’s latest report. You can also view the CEO’s power point presentation from the policy briefing.

Learn more about the Department of Consumer Affairs and the Food Bank for New York City’s work helping low-income New Yorkers prepare their taxes and claim their tax credits.

Tags
Child Care Tax Credit, Earned Income Tax Credit (EITC), Economic Security

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