Podcasts about earned income tax credit eitc

This lecture provides an overview of deductions, tax credits, and reporting requirements relevant to federal income tax.Deductions reduce taxable income. Above-the-line deductions, such as IRA contributions and student loan interest, impact Adjusted Gross Income (AGI). Below-the-line deductions include itemized deductions like medical expenses, state and local taxes (SALT, capped at $10,000), mortgage interest, and charitable contributions, or the standard deduction. Business expenses that are ordinary and necessary are deductible. Taxpayers can deduct capital losses against capital gains and, to a limited extent ($3,000), against ordinary income.Tax credits reduce the final tax bill dollar for dollar and are more valuable than deductions. Nonrefundable credits, like the foreign tax credit and the child and dependent care credit, can reduce tax liability to zero. Refundable credits, such as the Earned Income Tax Credit (EITC) and the child tax credit, can result in a refund. Many credits have phaseouts based on income levels.Capital gains and losses can impact deductions because losses can offset gains and, to a degree, ordinary income. Short-term capital gains are taxed at ordinary income rates, while long-term gains are taxed at preferential rates.Filing and reporting is done via Form 1040, with schedules for itemized deductions (Schedule A), business income (Schedule C), and capital gains/losses (Schedule D). Taxpayers must keep records to substantiate claims. Penalties exist for underpayment, non-filing, and fraud. The Alternative Minimum Tax (AMT) ensures high-income individuals pay a minimum level of tax by disallowing certain deductions.An example illustrates how to apply these concepts, including calculating above-the-line deductions, choosing between itemized and standard deductions, and determining eligibility for credits.Key steps for answering exam scenarios: identify income sources, subtract above-the-line deductions to get AGI, decide whether to itemize, factor in credits, consider capital gains/losses, and watch for specialized situations like AMT.

The lecture begins by explaining deductions, emphasizing the fundamental split between above-the-line and below-the-line deductions. Above-the-line deductions, such as contributions to certain retirement accounts and student loan interest, come off a taxpayer's gross income to yield Adjusted Gross Income (AGI). Because many credits and phaseouts use AGI thresholds, these deductions can influence eligibility for various tax benefits. Below-the-line deductions include either the standard deduction or itemized deductions like mortgage interest, state and local taxes (SALT), medical expenses above a certain AGI percentage, and charitable contributions. Taxpayers must determine which approach—standard or itemized—provides the larger benefit. Business deductions for trade or business expenses are allowed if the costs are ordinary and necessary, but purely personal or capital expenses are treated differently, often requiring capitalization and depreciation.A second area of focus is the difference between tax deductions and tax credits. While deductions reduce the amount of income subject to taxation, credits reduce the final tax owed. Credits typically appear in two main forms: nonrefundable credits, which can reduce a taxpayer's liability to zero but not below it, and refundable credits, which can generate a refund even if the taxpayer's liability is already at zero. Examples include the Earned Income Tax Credit (EITC) for lower-income workers and the American Opportunity Tax Credit for education-related expenses. Each credit may feature phaseouts once a taxpayer's income passes certain thresholds.The lecture also explores capital gains and losses, covering the difference between short-term gains (taxed at ordinary rates) and long-term gains (often taxed at preferential rates). Netting processes allow short-term losses to offset short-term gains and long-term losses to offset long-term gains, with excess losses partially usable against other income. This interplay with deductions is crucial: capital losses can reduce other income to a limited degree, shaping a taxpayer's overall liability.Moving on to tax filing and reporting requirements, the lecture details the forms and schedules that structure how individuals declare income, deductions, and credits. Form 1040 is the primary return, supported by schedules such as Schedule A for itemized deductions, Schedule C for sole proprietor business income, and Schedule D for capital transactions. The text underscores the importance of maintaining documentation—receipts, logs, and official acknowledgments—to validate any claimed deductions or credits. Audits and penalties can follow if taxpayers cannot substantiate their positions. Failure-to-file and failure-to-pay penalties accrue when deadlines are missed, while accuracy-related penalties may be imposed if the IRS discovers substantial understatements or fraudulent behavior.Another element is the Alternative Minimum Tax (AMT), a parallel system designed to prevent high-income taxpayers from disproportionately lowering their tax via various exclusions or preferences. Under the AMT regime, certain itemized deductions are limited or disallowed, and a specific exemption amount phases out at higher income levels. Taxpayers pay whichever tax (regular or AMT) is higher.An extended hypothetical scenario illustrates how these principles fit together in practice: A taxpayer might reduce AGI using above-the-line deductions (like student loan interest or retirement contributions), choose whether to itemize or use the standard deduction, and claim relevant credits (for child care, education, or energy). The presence of side-business income, capital gains, or questionable business expenses can complicate the return. Exam questions often require step-by-step analysis: begin with total income, subtract relevant deductions, confirm whether itemizing surpasses the standard deduction, factor in credits, and determine final tax or refund.

Tax season is around the corner, and navigating the ins and outs of filing your taxes can be overwhelming. In this comprehensive guide to tax season 2025, we break down everything you need to know to file your taxes with confidence. From the tax filing deadline to crucial updates on standard deductions, tax brackets, and credits, we'll help you avoid common mistakes and maximize your potential refund. Whether you're filing as an individual or with a family, understanding the new rules for tax year 2024 is key. This episode will cover all of the essential details, including: Important tax deadlines for 2025 and how to avoid penalties The impact of inflation-adjusted tax brackets and how they affect your filing Key deductions and credits you could be eligible for, such as the Earned Income Tax Credit (EITC), Child Tax Credit (CTC), and more How to properly claim charitable donations, medical expenses, and business deductions if you're self-employed or a freelancer The latest updates on 1099-K forms for side hustlers and online sellers Tips on maximizing your retirement contributions and education credits for tax savings If you want to avoid last-minute stress and ensure you're filing your taxes accurately, this episode provides the essential steps you need to get prepared for tax season 2025. Don't wait until the last minute—start organizing your documents and understanding the tax changes that could impact your refund or tax bill this year. Subscribe to the channel for more empowering content on personal finance, investing, and self-improvement. Don't miss out on the opportunity to unlock your true financial potential and live a life of abundance. It's time to invest in yourself and create the future you deserve! Tax Checklist: https://www.nerdwallet.com/article/taxes/tax-prep-checklist Articles Used: Tax Deadlines: https://www.irs.gov/newsroom/irs-announces-jan-27-start-to-2025-tax-filing-season-agency-continues-historic-improvements-to-expand-enhance-tools-and-filing-options-to-help-taxpayers Tax Brackets & Deductions: https://www.ramseysolutions.com/taxes/tax-season-what-you-need-to-know Charitable Contribution Deductions: https://www.irs.gov/charities-non-profits/charitable-organizations/charitable-contribution-deductions Medical Expense Deductions: https://www.irs.gov/publications/p502 Earned Income Tax Credit (EITC): https://www.irs.gov/credits-deductions/individuals/earned-income-tax-credit/earned-income-and-earned-income-tax-credit-eitc-tables Child Tax Credit: https://www.irs.gov/credits-deductions/individuals/child-tax-credit 1099-K Changes: https://www.kiplinger.com/taxes/1099-k-threshold-to-file--what-to-know **Support the Stream By Shopping at Our Store**  Buy Your Financial Mirror Gear: https://www.thefinancialmirror.org/shop  YouTube: https://www.youtube.com/@thefinancialmirror Rumble: https://rumble.com/TheFinancialMirror Facebook: https://www.facebook.com/thefinancialmirr0r X: https://twitter.com/financialmirr0r Instagram: https://www.instagram.com/thefinancialmirror/ Podcast: https://thefinancialmirror.podbean.com/ If you are in need of a Financial Coach, don't waste another day of being in debt, not planning for retirement, or simply wondering where your money went each month. Today is the day to take control of your finances and I can help, no issue is too big or too small. Contact me at https://www.thefinancialmirror.org/ #TaxSeason2025 #TaxTips #TaxFiling #TaxDeductions #TaxCredits #IRS #FilingTaxes #TaxDeadlines #StandardDeduction #TaxBrackets #TaxReturn #TaxSeason #EITC #ChildTaxCredit #SelfEmployedTaxes #FreelancerTaxes #TaxRefund #TaxTips2025 #TaxPlanning #EarnedIncomeTaxCredit #TaxSavings #TaxHelp #TaxAdvice #TaxSeasonPrep #TaxYear2024 #TaxExpert #RamseySolutions #TaxSeasonTips

In this excellent episode, Nancy and Jose are joined in the studio by Ivy Stein, an Impact Manager at the United Way of San Diego County.Learn about the importance of having a positive community effect, particularly in San Diego County where over one-third of households experience financial hardship. Ivy talks about the coalition that she oversees, emphasizing the significance of the Earned Income Tax Credit (EITC) in the area.The discussion emphasizes how important it is to educate people with low and moderate incomes—who frequently ignore available financial aid—about tax credits. Ivy describes how the coalition grew to include over forty organizations and highlights how they all worked together to help people with their taxes, from awareness campaigns to actual tax preparation and help after filing.In this episode, hear about the coalition's diverse range of organizations, including refugee services, and the vital role they play in helping disadvantaged communities. Ivy offers intimate details about her motivation for working in community impact, which stems from her desire to change the world and make sure that people in need are the direct beneficiaries of her efforts. The episode ends with a preview of upcoming efforts that seek to further combine education and economic mobility programs in order to promote comprehensive community development.An excellent episode on filling gaps in the community with Ivy Stein. Here are some other takeaways from the interview:Raising awareness about tax credits, particularly the Earned Income Tax Credit (EITC), to support low and moderate-income individuals in San Diego County.The collaborative efforts of over 40 organizations within the coalition, spanning refugee services and community organizations, to provide comprehensive tax assistance and financial education.The significant impact of volunteer income tax assistance (VITA) programs in providing quality tax services and dispelled misconceptions about the free service's quality.Economic benefits of tax credits like EITC and Child Tax Credit in supporting families, fostering financial stability, and stimulating the local economy.Ivy's personal passion for community impact work and her dedication to making a positive difference in the lives of those in need, highlighting the importance of holistic community development initiatives.The answers to the rapid-fire questions.An excellent interview from a passionate gap minder. Thank you, Ivy, for your contributions in San Diego, and for joining us on The Gap Minders.Enjoy this episode and be sure to subscribe to the show.If you have any questions or want to contact Nancy or Jose, please send an email to podcast@uwsd.org. Thank you for listening.To learn more about the two social impact organizations making The Gap Minders possible, please visit www.TheGapMinders.org.

In this week's episode, BPC Senior Advisor Theresa Cardinal Brown talks us through the recent failed bipartisan border deal. Then, Theresa and Senior Policy Analyst Jack Malde chat to Policy Analyst Arianna Fano about a new BPC report examining the barriers immigrant families face in the take-up of tax credits. The Child Tax Credit (CTC) and Earned Income Tax Credit (EITC) are crucial anti-poverty tools but many individuals in need—including a disproportionate share of eligible immigrants—do not claim these credits for a variety of reasons. We also chat to BPC Associate Director Emerson Sprick who tells us about a recent bipartisan tax bill that includes an expansion of the Child Tax Credit.  Bipartisan Policy Center report: Pathways to Prosperity  Bipartisan Policy Center blog: Barriers to Tax Credit Education and Take-Up Among Immigrant Communities  In this episode: (00:00) Introduction (01:17) The (Failed) Bipartisan Border Deal (09:58) BPC's Report On Immigrant Access To Tax Credits (31:00) The Recent Bipartisan Tax Bill (38:35) Outro

In this episode of 'Dr. Friday Tax Tips - One Minute Moment,' Dr. Friday, the head of Dr. Friday's Tax and Financial Firm, delves into the intricacies of the Earned Income Tax Credit (EITC) for the year 2023. She explains that the EITC is a refundable tax credit designed primarily for lower-income individuals, with or without children. The credit amount for 2023 ranges between $600 and $7,430, varying based on the number of children, marital status, and income level. Dr. Friday emphasizes the income-based eligibility of the EITC, highlighting that individuals with up to three children can claim this credit. For those seeking assistance with their taxes, Dr. Friday encourages contacting her firm or tuning into her live Call-In Show on Saturdays. Transcript G'day, I'm Dr. Friday, President of Dr. Friday's Tax and Financial Firm. To get more info, go to www.drfriday.com. This is a one-minute moment. Earned Income Tax Credit. What is it? It's a refundable tax credit tax breaks for lower-income individuals with or without children. In 2023, the credit ranges from $600 up to $7,430 depending on how many kids you have, your marital status, or if you have no kids. So, again, this is one of those that's truly based solely on income, and if it's low enough and you don't have children, you may qualify. If you do, you have up to three children that you can claim for the earned income credits. If you need help, all you have to do is check me on the web, drfriday.com. Need help with taxes? Call me at 615-367-0819. You can catch the Dr. Friday Call-In Show live every Saturday afternoon from 2 to 3 p.m. right here on 99.7 WTN.

The Earned Income Tax Credit (EITC) is a refundable tax credit designed to help those with low to moderate incomes. Find out if you qualify!

The Earned Income Tax Credit (EITC) is a refundable tax credit designed to help those with low to moderate incomes. Find out if you qualify! The post Earned Income Tax Credit 2023: What It Is And How To Qualify appeared first on The College Investor.

In this episode of Faithful Politics, hosts Will Wright and Pastor Josh Bertram engage in a profound discussion with Robert Doar, the esteemed 12th President of the American Enterprise Institute. Mr. Doar's illustrious career in the public sector, serving under Governor Pataki and Mayor Bloomberg, forms the backdrop for an in-depth exploration of federal and state anti-poverty policies and safety net programs.The conversation commences with a reflection on Mr. Doar's professional journey and his philosophy on the dignity of work. He articulates the importance of employment-oriented policies and the success he witnessed in his role as social services commissioner in New York City.The dialogue then transitions into a critical examination of various government assistance programs. The hosts and guest debate the merits and challenges of bipartisan programs such as the Earned Income Tax Credit (EITC) and health insurance for working low-income individuals. They consider the role of work requirements and the government's responsibility in fostering genuine aid.Economic considerations are also central to this episode. Mr. Doar offers his perspective on the strength and resilience of the American economy, the current issues surrounding inflation, and the skills gap in the workforce. A robust endorsement of free markets, coupled with a nuanced discussion on regulation and taxation, provides listeners with a comprehensive understanding of economic ideologies.This episode of Faithful Politics is not merely an academic discourse. It serves as a bridge between theoretical principles and practical implementation, shedding light on the complexities of governance, the intricate balance between Democrats and Republicans, and the moral underpinnings of political decisions.Listeners seeking an elevated and thought-provoking conversation are invited to tune in to this episode. It promises to be an enlightening exploration of faith, politics, economics, and the fabric of American society.Support the showTo learn more about the show, contact our hosts, or recommend future guests, click on the links below: Website: https://www.faithfulpoliticspodcast.com/ Faithful Host: Josh@faithfulpoliticspodcast.com Political Host: Will@faithfulpoliticspodcast.com Twitter: @FaithfulPolitik Instagram: faithful_politics Facebook: FaithfulPoliticsPodcast LinkedIn: faithfulpolitics

Guest David Rehkopf is an expert in population health who says that where we live is one of the strongest influences on how long we live. While we know diet and health care are important, it has been tough to tease out what about these places allows people to live longer and healthier lives. By examining environmentally induced changes in DNA, we may be able to more quickly and more accurately quantify what aspects of environments promote longer, healthier lives, Rehkopf tells host Russ Altman in this episode of Stanford Engineering's The Future of Everything podcast.Chapter Time Stamps:(00:00:00) IntroductionHost Russ Altman delves into the fascinating world of longevity with Dr. David Rehkopf from Stanford University. Discover the surprising links between government policies, corporate practices, and their impact on health.(00:02:14) The Quest for CentenariansExplore Dr. Rehkopf's research on centenarians in Costa Rica and how these long-lived individuals offer insights into the factors influencing longevity.(00:06:20) Unraveling the Genetics of LongevityLearn how genetic factors play a role in determining how long we live, and how centenarians possess unique genetic signatures that may hold the key to extended lifespans.(00:09:45) Lifestyle and EnvironmentDiscover the impact of lifestyle choices and environmental factors on longevity. From the benefits of traditional diets to the potential effects of infectious disease exposure, the picture becomes clearer.(00:10:55) The Role of ExerciseDive deeper into the significance of physical activity on long-term health and how regular exercise can contribute to increased lifespan and overall well-being.(00:11:40) Social Connections and LongevityExplore the intricate relationship between social connections, community engagement, and the potential impact on living longer and healthier lives.(00:13:30) Government Policies and HealthDr. Rehkopf sheds light on the influence of government policies, such as the Earned Income Tax Credit (EITC), on health outcomes. Find out how these policies can positively impact maternal health and sickness absence rates.(00:15:20) The Power of Public Health InitiativesLearn about the importance of public health initiatives in promoting healthy behaviours, preventing diseases, and potentially extending the human lifespan.(00:16:05) Access to HealthcareExplore the crucial role of accessible healthcare in longevity, and how disparities in healthcare access can affect different populations.(00:18:30) Work-Life BalanceDelve into the concept of work-life balance and its potential impact on employee health and happiness in the long run.(00:19:45) Corporate Wellness ProgramsLearn about the various corporate wellness programs and initiatives aimed at improving employee well-being and how they might influence longevity.(00:21:05) Hybrid Work Models and LongevityAs the world adapts to the pandemic-driven hybrid work models, Dr. Rehkopf discusses the potential long-term effects on workforce health and well-being.(00:23:40) The Road AheadIn this final chapter, we speculate on the future of longevity research and how understanding the intricate connections between government, corporations, and individual choices can shape a healthier and longer life for all.

Katherine Michelmore, PhD, is an Associate Professor of Public Policy at the Gerald R. Ford School of Public Policy. Her research examines the social safety net, education policy, labor economics, and economic demography. Michelmore joins Michigan Minds to discuss her research, which examines how much black-white educational disparities reflect differences in family, school, and neighborhood contexts, and how the Earned Income Tax Credit (EITC) impacts multigenerational households and lower-income families with a nonresident parent.Download transcript Hosted on Acast. See acast.com/privacy for more information.

Michigan's Earned Income Tax Credit (EITC) is a tax credit for workers and families with low incomes, and it helps them meet basic spending needs like groceries, transportation, child care and home maintenance. In 2012, the credit was cut back, and the League and our partners have been advocating for it to be boosted every since. And NOW IS OUR CHANCE! There's bipartisan support for increasing the EITC to 30% of the federal credit. To make sure we understood just how much the EITC means to working Michiganders and their communities, we invited Bethany Broom-Dombrowski, a United Way VITA site coordinator, to talk to us about how the families she serves—most of them in rural areas—benefit. Bethany herself received the EITC when her daughter was younger, so she knows first-hand how important the credit is. Learn more about the EITC here. Take action and ask your lawmakers to support a boost here. Learn more about the United Way VITA Program (Volunteer Income Tax Assistance) by calling 2-1-1 or contacting your local United Way.

Young folks who are trying to make ends meet deserve some extra cash! Generation Justice discusses the Earned Income Tax Credit (EITC) with Deneisha Thompson, Senior Associate of the EITC Funder's Network! Denisha spoke about the EITC and encourages that if you worked last year, were 19-24 years old, and made $21,000 or less - go to GetYourRefund.org to find out if you qualify! Be sure sure to listen in every SUNDAY @7PM on 89.9 KUNM OR stream on KUNM.org!

Wading Through Hawaii Tax Forms. The host for this show is Jay Fidell. The guest is Tom Yamachika. A few years ago, in 2017 to be exact, our lawmakers enacted an Earned Income Tax Credit (EITC), which then was touted as a truly wonderful way to deliver tax relief to working families. If it is properly claimed, that is. One alert reader, in a Star-Advertiser letter to the editor, wondered out loud how people are supposed to figure out how to claim the credit…and with good reason. So, we walk through the return and give you some spoilers. The ThinkTech YouTube Playlist for this show is https://www.youtube.com/playlist?list=PLQpkwcNJny6lmEllOKP493URXssFT4N7G Please visit our ThinkTech website at https://thinktechhawaii.com and see our Think Tech Advisories at https://thinktechadvisories.blogspot.com.

The Earned Income Tax Credit (EITC) was expanded in 2021.  Mike Criddle, memeber of UACPA and a tax partner at Eide Bailly, explains who qualifies and who doesn't.   Find out how you might be able to use your income from 2019 to get a more money from EITC when you file your taxes this year. You can follow this show on Instagram and on Facebook. And to see what Heather does when she's not talking money, go to her personal Twitter page. Be sure to email Heather your questions and request topics you'd like her to cover here. See omnystudio.com/listener for privacy information.

Nancy Sasaki, President & CEO, United Way of San Diego County, and Bill York, President & CEO, 2-1-1 San Diego, two stalwarts serving the San Diego community, discuss their collaboration to help San Diego citizens and families learn the ins and outs of the Earned Income Tax Credit. The Earned Income Tax Credit (EITC) is a refundable cash-back tax credit for low-income working families and individuals. It is one of the most effective tools in America to lift families out of poverty, yet thousands of eligible families in San Diego miss out on the EITC,For more information on the EITC, please visit www.uwsd.org and www.211sandiego.org

The Internal Revenue Service (IRS) has announced that taxpayers can begin filing their 2021 tax returns on Monday, January 24, 2022The Jan. 24 tax-filing start date for 2022 is 19 days earlier than 2021's start date of Feb. 12. At the same time, the IRS warns that the upcoming filing season could be frustrating for taxpayers and tax preparers alike due to pandemic-related delays, a backlog of unprocessed returns from 2021, and years of budget cuts that have made the agency's job more difficult. KEY TAKEAWAYSTaxpayers can begin filing 2021 tax returns Monday, Jan. 24, 2022, 21 days earlier than last year. The IRS has warned there could be delays in issuing refunds in 2022 due to issues related to the pandemic, budget cuts, and unprocessed returns from 2021. The tax agency cautions taxpayers to file as early as possible after Jan. 24 and to make sure they have their paperwork in order. The IRS suggests taxpayers look for help online and use phone lines only if necessary. The agency says if you file electronically, choose direct deposit, and, assuming there are no issues with your return, you should get your refund within 21 days. To avoid processing delays and speed refunds, the IRS urges people to follow these steps. Gather your 2021 tax records including Social Security number, Individual Taxpayer Identification Number, https://www.irs.gov/individuals/adoption-taxpayer-identification-number (Adoption Taxpayer Identification Number), and this year's https://www.irs.gov/identity-theft-fraud-scams/get-an-identity-protection-pin (Identity Protection Personal Identification Number) for calendar year 2022. Check IRS.gov for the latest tax information, including the latest on how to reconcile advance payments of the Child Tax Credit or claim a Recovery Rebate Credit for missing stimulus payments. Make sure you report correct amounts for any Economic Impact Payments or advance Child Tax Credits received in 2021. If you need help, use online resources such as https://mkgtaxconsultants.com/ (MKG Tax Consultants) registered return tax preparer Tax Filing Mobile App instead of calling. Calling the IRS should be a last resort. Even if you are not normally required to file a tax return, you need to do so in order to claim a Recovery Rebate Credit, to receive a tax credit from 2021 stimulus payments, or to reconcile advance Child Tax Credit payments. File electronically and request direct deposit. If you request an extension to file by April 18 (or 19), you have until Monday, October 17, 2022, to submit your 2021 tax return. You must pay your estimated taxes, however, by the regular tax filing deadline of April 18 (or 19) Things That May Delay Your RefundEven though you can file your tax return as soon as Jan. 24, 2022, by law the IRS cannot issue a refund involving the Earned Income Tax Credit (EITC) or Additional Child Tax Credit (ACTC) before mid-February. The purpose of the law is to prevent fraudulent refunds from being issued. Download MKG Tax Consultants covid free Tax Filing Loan Originator Mobile App and Get Your Max Tax Refund https://mkgtaxconsultants.com/ (https://mkgtaxconsultants.com)

This episode is a call to action for ending childhood poverty in America. Joseph Leitmann-Santa Cruz, CEO and Executive Director of Capital Area Asset Builders (CAAB) wants listeners to direct limited income families to the IRS Child Tax Credit (CTC) portal to apply for a refund by the November 15 deadline. We have, as Joseph explains, a once in a lifetime opportunity to lift more than half of low-income families out of poverty and keep them out. The Earned Income Tax Credit (EITC) and the Child Tax Credit are this nation's most effective poverty alleviation policies, but many eligible households are unaware of them. And to be clear, they are not public benefits. The CTC allows families whose incomes are limited or sporadic to collect refunds due to them. The payments can be transformational, allowing parents to start a college fund, pursue home ownership or start a business. The Biden Administration strongly supports the Child Tax Credit, and it was expanded but not made permanent in the American Rescue Plan of 2021. As Joseph says, we seem to lack the political will to position all families to reach their American Dream.      

The nation's two largest cash assistance programs for low income workers redistribute taxpayer funds from legal workers to illegal immigrants. This week, Dr. Steven Camarota, the Center's director of research, and Mark Krikorian, the Center's executive director and host of Parsing Immigration Policy, discuss the billions of dollars of cash payments from the Earned Income Tax Credit (EITC) and the... Source

In this episode of Saving With Steve, host Steve Sexton is joined by Leigh Phillips, President & CEO of SaverLife, a national nonprofit that helps working families achieve prosperity through savings, and Consultant and Mentor, Thomas William Hogg, who has more than 20 years of market and work experience in Germany, Mexico, Switzerland, and the USA and is Founder and Managing Director of TMH Consulting & Investment Group.   With more than 40% of Americans unable to handle a $400 emergency, SaverLife.org, and their CEO, Leigh Phillips, are looking to change that by showing you how to build financial security and achieve prosperity through savings. She also shares how there could be huge consequences for society as well as for the vulnerable, low-income families who may miss out on critical tax regards in the coming months because they may not know about the underreported “loopback” provision for Earned Income Tax Credit (EITC) and Child Tax Credit (CTC) in the recent stimulus package.   With all that is going on in the world right now, companies are struggling, and people all over the U.S. and the world are starting or reinventing their businesses. My second guest, Thomas Michael Hoggs, is talking with us today about the strategies and success formula of companies with high profitable growth that can help us transform our business mindset, overcome a current crisis, and grow our businesses.   Learn more about the show at www.SavingWithSteve.us

The Earned Income Tax Credit (EITC) and Child Tax Credit (CTC) are the two most effective tools we have to lift children out of poverty. But what are they, exactly? In summary, these tax credits are dollar-for-dollar reductions in the income tax someone owes to the federal or state government. By either reducing the amount of money owed or providing refundable credits, these tax programs create lifelong benefits for kids and families. Currently, tax code in Colorado is highly inequitable and often benefits those who do not need it. By advocating for an expansion of EITC and CTC this legislative session, we can take one step toward more equitable access for those who need it most.   Sarah Barnes and Esther Turcios break down these two highly beneficial tax codes in episode 6 of The West Steps. After providing an overview of both the EITC and CTC, Sarah and Esther detail current opportunities for expansion at the state level, and recent changes at the federal level. By centering equity in tax policy, we can begin to dismantle the racist roots of our tax code and use tax dollars in a more broadly beneficial way. Interested in being a part of the conversation? Click here to find ways to support and engage with the Colorado Fiscal Institute and their current tax policy initiatives. Support the show (https://www.coloradokids.org/)

Stephan, Will, and Shasti talk this week about how progressive taxation seems to be having a moment, both on national stage, with Elizabeth Warren and Pramila Jayapal's Wealth Tax Act, and also here in WA, with a number of progressive bills that have an actual shot in the legislature. Guest: Rich Smith, writer for The Stranger Calls to Action: Working Family Tax Credit HB 1297 is scheduled to get a vote in the House on Sunday, March 7, so call or email your representative in support of it. Suggest Script: I'm [NAME] from [CITY]. I support HB 1297, the Working Families Tax Exemption, and urge you to vote 'yea.' [ADD A SENTENCE OR TWO MORE BASED ON THE POINTS BELOW] The Working Families Tax Credit/Recovery Rebate provides direct cash assistance to the households that need it most. The Recovery Rebate builds on the success of the federal Earned Income Tax Credit (EITC), and makes Washington state's version of the EITC, the Working Families Tax Credit, more equitable by: ensuring families with the lowest incomes receive more support by providing an annual cash rebate of $500 to qualifying households, plus $150 each for up to three kids; and including people who file taxes with an Individual Tax Identification Number (ITIN), who are unjustly excluded from unemployment insurance and federal stimulus efforts. ITIN filers include undocumented immigrants, certain student visa holders, and survivors of intimate partner violence, among others. Studies have shown that each dollar returned to low income tax filers generates up to $2.00 in local economic activity, supporting local businesses, since they are most likely to spend the money on groceries, child care, etc. One of the main reasons people stay with an abusive partner is that they don't have the money to support themselves or their children. Access to an additional $340 has been shown to help survivors in our state find safety and stability by covering things like car repairs needed to keep a job, or changing the locks so they can safely stay in their own home. This bill is one of our legislative priorities this session because of the profound impact it would have on survivors' options for safety and stability. The Wealth Tax HB 1406 is currently in the House Finance Committee, so the action is to contact the chair, Noel Frame, and let her know you support it. She's the author, but it helps to know that there's public support. And finally, support the Capital Gains tax, SB 5096, by letting your senator know that you want him or her to vote for it when it comes up for a floor vote before March 6th. Sample Script: Please vote yes on SB 5096 in the Senate floor vote. I support this bill because it will raise revenue which Washington State needs to provide necessary services. Washington state has the most regressive tax structure in the nation. This excise tax will target the wealthiest taxpayers and make our tax structure more equitable. Thank you. [NAME], [CITY], [ZIP]

The Earned Income Tax Credit (EITC) is a refundable tax credit designed to help those with low to moderate incomes. Find out if you qualify!

7/23/20--While co-host Stephanie Murray is off for a much-deserved vacation this week, Steve Koczela and Jennifer Smith have plenty to talk about both in national and statewide politics and policy. President Trump signed a memo on Wednesday instructing the Commerce Department to leave out unauthorized immigrants living in the U.S. from the census report that determines distribution of Congressional seats. As Jenn points out, this is not the first time the Trump administration has attempted to tangle in the census process of counting all persons. Back in pre-COVID times, the Trump administration tried to put a question on the census asking about citizenship status. We at The Horse Race have spent a lot of time covering COVID-era housing issues, because it's a basic human need that, as evidenced by data from The MassINC Polling Group, has become incredibly difficult for some Massachusetts residents to hold onto during this crisis. The statewide eviction and foreclosure moratorium was set to expire mid-August, and polling conducted in June found many renters and homeowners did not feel confident they could catch up on housing payments by that point. Governor Baker announced Tuesday that moratorium will be extended until October 17, protecting renters and homeowners from foreclosure and eviction at least until then. Businesses across the state are hurting, regardless of their size. But new polling from The MassINC Polling finds that some factors make businesses much more vulnerable to hardship brought on by the pandemic, whether that's revenue loss or accessibility to aid. Very small businesses, for example, have not applied for PPP as often or received the full amount they applied for as larger businesses. The industry in which the business resides also has a lot to do with if and to what capacity they're operating. Those that deal in a lot of in-person interactions like education and beauty businesses as well as bars and restaurants are more likely to be closed and less likely to be open completely. Many small businesses are also women- and/or minority-owned. More than half of businesses owned by women and women of color reported revenue drops of half or more in the first half of 2020. While Congress turns its attention to a second stimulus package, Boston Indicators is proposing a more permanent form of financial security in the shape of a guaranteed minimum income for lower-income Massachusetts families. This would be executed via reforms to the pre-existing Earned Income Tax Credit (EITC). In the research report, Boston Indicators Director Luc Schuster, points to the systemic income inequities in Massachusetts, and says that given Massachusetts wealth as a state, it has the resources at its disposal to ultimately eliminate poverty. With the EITC as a foundation, Luc says, “It would be pretty easy to just build on top of that to make more categories of households eligible and increase the benefit.”

Bruce Bartlett Starts at 10:18. Bruce has spent many years in government, including service on the staffs of Representatives Ron Paul and Jack Kemp and Senator Roger Jepsen. He has been executive director of the Joint Economic Committee of Congress, senior policy analyst in the Reagan White House, and deputy assistant secretary for economic policy at the Treasury Department during the George H.W. Bush administration. Here are his books His New Republic Column. Bruce on Twitter  Tim Wise starts at 48 mins in. Tim is among the most prominent anti-racist writers and educators in the United States. He has spent the past 25 years speaking to audiences in all 50 states, on over 1000 college and high school campuses, at hundreds of professional and academic conferences, and to community groups across the country. He is also the host of the new podcast, Speak Out with Tim Wise. He has also trained corporate, government, entertainment, media, law enforcement, military, and medical industry professionals on methods for dismantling racism in their institutions. Wise has provided anti-racism training to educators and administrators nationwide and internationally, in Canada and Bermuda. Wise is the author of eight books, including his forthcoming, Dispatches from the Race War (December 2020 from City Lights Books). Other books include Under the Affluence, Dear White America: Letter to a New Minority and Colorblind (all from City Lights Books); his highly acclaimed memoir, White Like Me: Reflections on Race from a Privileged Son, (recently updated and re-released by Soft Skull Press); Affirmative Action: Racial Preference in Black and White; Speaking Treason Fluently: Anti-Racist Reflections From an Angry White Male; and Between Barack and a Hard Place: Racism and White Denial in the Age of Obama. Tim Wise on Twitter  Joe Sanberg starts at 1:33. Joe has been the leading advocate for the state’s new Earned Income Tax Credit (EITC) for low-income families. He is Co-Founder of Aspiration.com, an online financial company built for everyone. Aspiration serves people at the heart of their financial lives – their banking account – in a trust-based model that empowers people to choose whatever fee they think is fair (even zero) and enables them to bank, invest, and spend in accordance with their values. Aspiration’s approach has made it the fastest-growing and most beloved consumer financial company in America. Joe also serves on the board of the Sierra Club Foundation, the Economic Innovation Group, and the Jefferson Awards Foundation, which engages over 1 million young people each year in volunteerism and public service Please consider a paid subscription to Stand Up

How can we use data to tell community stories and create actionable change? What is the role of narrative in advancing equitable policies that improve the health and wellbeing of children and their families? In our ninth episode, we explore these questions with Allison Bovell-Ammon and Dr. Megan Sandel of Children’s HealthWatch (CHW). Headquartered at Boston Medical Center, CHW is a nonpartisan network of pediatricians, public health researchers, and children’s health and policy experts working to improve the health and development of young children by informing policies that address and alleviate economic hardships. Through our conversation, we learn about CHW’s collaborative efforts to advocate for holistic and innovative policy solutions that are grounded in community voices and address root causes of health inequity, including their policy efforts to design pathways to stable homes and expand access to Earned Income Tax Credit (EITC) benefits. Learn more about their efforts, including resources and supports for families to find safe and secure housing during COVID-19, at: https://childrenshealthwatch.org/. Guests include:Allison Bovell-Ammon, Director of Policy Strategy, Children’s HealthWatchDr. Megan Sandel, Co-Lead Principal Investigator, Children’s HealthWatchHost: Ronda Alexander, Director of Operations, Vital Village NetworkProduced by: Networks of Opportunity for Child WellbeingMusic By: Morgan Breland

Today's discussion includes many activities at the California Environmental Protection Agency (CalEPA) and in the State Capitol.  Emily highlights leadership changes at the Department of Pesticide Regulation (DPR) and ongoing discussions at the State Water Resources Control Board (SWRCB) regarding fees and an effort to reduce compliance costs for the various permitting programs.   On the Legislative front, there have been changes to the drinking water effort and Tricia walks through where we are on the state budget process.  A number of "budget trailer bills" have been moving through the Legislature containing important policy changes.  Additionally, the Governor is working hard on expanding the Earned Income Tax Credit (EITC) and we expect a vote on that in the coming weeks as well. **PLEASE NOTE:  This podcast was recorded prior to the pesticide exposure incident in Tulare County affecting farmworkers on June 18.  The farmworkers were treated by first responders, with a few taken to the hospital, and we are thankful they felt better after being treated.  Farmers care deeply about the health and safety of their employees.  Farmers take every precaution to protect the well-being of farmworkers and follow strict laws and regulations pertaining to the application of pesticides.  For further information about the incident, please go to this link HERE for an ABC30 news story. 

Joseph Leitmann-Santa Cruz, Associate Director of Capital Area Asset Builders (CAAB), returns to Power Station with news about the expansion of the Earned Income Tax Credit (EITC) into Washington DC’s historic Wards 7 and 8. The EITC enables working people, whose employment is low-wage and sporadic, to claim a tax credit through through their annual tax filing. The amount these households are refunded is often the largest single payment they earn in a given year. This return can be instrumental in advancing their aspirations, including savings towards a home, education or investment in a small business. The challenge is to get the word out to eligible households and support them in filing tax returns. This is why CAAB launched DC Community Conversations. It raises awareness about the EITC through presentations in schools and community centers in neighborhoods where disinvestment and the racial wealth gap have stripped communities of resources and families of personal wealth. Joseph is exactly the right person to lead this effort. He is a former financial advisor for wealthy families and the product of a single parent household with high aspirations but limited means. His energy and commitment seem boundless and he is a consummate collaborator with the public and corporate partners that share his vision.

While basic income is often described as a revolutionary proposal, we do have programs in the federal government and some U.S. states that contain elements of a basic income, namely the Earned Income Tax Credit (EITC). The California Budget & Policy Center (CBPC) has studied the effects of the EITC, and what it might look like to expand the program to something resembling a basic income. Jim and Owen are joined by Senior Policy Analysts at the CBPC, Alissa Anderson and Sara Kimberlin.

  Joseph N. Sanberg believes that everyone who works – and everyone who wants to but can't – should be able to afford life's basic needs and live with financial security. He founded the Golden State Opportunity Foundation to expand financial security to the millions of Californians who work hard yet experience constant financial stress. Joe has been the leading advocate for the state's new Earned Income Tax Credit (EITC) for low-income families. Joe not only lobbied California to pass the credit, but in 2015 when the state didn't allocate enough money for outreach, Joe created CalEITC4Me. This community organizing program has connected working California families with $2 billion of state and federal Earned Income Tax Credits. This spring, CalEITC4Me led a grassroots organizing campaign that won a massive expansion of California's EITC so that next year, 3x more working families – 1.7 million in total – will be able to earn the CalEITC. Please enjoy our conversation with Joseph Sanberg.

https://turbotax.intuit.com Learn who qualifies for the Earned Income Tax Credit (EITC), which can present significant tax savings for those who can claim it, in this helpful tax tips video from TurboTax.

By now most of us have heard the statistic - 72% of all African American children are born to unwed mothers which is a rate that eclipses every other ethnic group in our country. Are you thinking that it is not your problem? Well think again. According to the National Fatherhood Initiative's report, "100 Billion Dollar Man", the federal government spends $99.8 BILLION dollars a year on fatherlessness in America. This includes money spent on child support enforcement, Medicaid, Temporary Assistance for Needy Families (TANF) and the Earned Income Tax Credit (EITC). This economic and ethnic crisis has been described as a cancer that is eating away at the fabric of our communities. Christelyn Karazin, a social activist and creator of the campaign, “No Wedding, No Womb”, will be our guest as we talk about ways to educate and eradicate this disease. Christelyn is the founder of BeyondBlackandWhite.com, a black women's empowerment and relationship site, and a writer for such publications as Woman's Day, Better Homes and Gardens, Ebony/Jet.com, Pregnancy Magazine, Reuters News Service and many more. Join us for a dynamic and enlightening discussion! And tell a friend!