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Quinn Encourages Low Income Tax Credit Application
SPRINGFIELD, Ill. (AP) -- Gov. Pat Quinn is encouraging low income families in Illinois to sign up for a tax credit.
The Earned Income Tax Credit is intended to provide working families incentive to work and get tax relief. The governor's office says 900,000 families received $160 million in tax credits last year. But Quinn says there are many more eligible families in Illinois who didn't apply. He says it will drive economic growth if more families receive the tax savings.
In 2013, a single mother with one child earning minimum wage saved a little more than $200 dollars on state income taxes. A married couple with three children earning $30,000 saved $265 on state income taxes.
The Internal Revenue Service estimates that 1 in 5 eligible taxpayers don't claim the tax credit.