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A note from Dave Willman, HfH of Idaho Past President: Last year I reminded a number of you about the potential for our HABITAT homeowners to receive the Federal "earned income tax credits." I am reminding you again and advising you others that this Credit can be truly beneficial to many of our homeowners. Now is close to the time when many homeowners will prepare their 2006 Federal income tax returns.
I understand that, in general, if a person/family earned about $38,000 or less in 2006 then that person/family may be eligible for an IRS Earned Income Tax Credit of up to about $4,500. This Credit likely would come in the way of a cash refund. -- I recommend that you obtain information and explanations about this from income tax preparer volunteers (e.g., CPAs). I am not providing expert income tax advice to you.
Homeowners that utilize tax preparation experts in the preparation of their income tax returns should be told about it from those preparers. My personal experience is that some (or most) HABITAT homeowners have not used expert tax preparers and have not been aware of this Credit. --- Our affiliates could well do their homeowners a really nice favor by informing them that they may have the potential for this Credit. |
