JERSEY CITY, N.J., Jan. 22, 2018 /PRNewswire/ -- The Earned Income Tax Credit (EITC) is one of the largest tax credits, and it's missed by about 20 percent of eligible Americans, according to the IRS. For taxpayers with three or more children, that's a whopping $6,318!
"The Earned Income Tax Credit is missed by the Americans who need the money most," said Alan D. Ferber, CEO of Jackson Hewitt®. "We're working hard for the hardest working to ensure that every client of Jackson Hewitt gets more and doesn't miss out on this valuable credit."
The IRS has named January 26, 2018 EITC Awareness Day, a nationwide effort to increase awareness and encourage those who are eligible for the EITC to claim it. In support of this effort, Jackson Hewitt will mobilize its nearly 20,000 Tax Pros across its close to 6,000 locations to inform clients and also use social media to get the message out.
The EITC is a refundable credit. This means if you qualify for the credit, you can add the credit to your refund when you have little or no income tax. If you are not required to file a tax return and you qualify for the EITC, file your return and claim your refund!
"About one-third of people who could claim the EITC are newly eligible each year because of changes in life circumstances," said Mark Steber, Chief Tax Officer of Jackson Hewitt, "so it is important to see a tax professional to understand your eligibility."
For many hard-working Americans, preparing their tax return is the largest financial transaction of the year. Beware that filing your own income tax return can open the door for unexpected errors, and EITC errors on returns can delay refunds for several months. The greatest value in using a tax professional is utilizing their expertise to get you the biggest refund you're entitled to, as soon as possible.
Taxpayers who claim the EITC won't receive a credit or refund before late February, due to tax laws in place to reduce fraudulent claims for refunds. To help customers get access to money sooner, when clients file with Jackson Hewitt, they could get up to $3,200 in an Express Refund Advance that day, a 0% APR loan offered by MetaBank®. To learn more, visit www.JacksonHewitt.com.
About Jackson Hewitt Tax Service Inc.
Jackson Hewitt Tax Service Inc. is an innovator in the tax industry, with a mission to provide its hard-working clients access to simple, low-cost solutions to manage their taxes and tax refunds. Jackson Hewitt is devoted to helping clients get ahead with Maximum Refund and 100% Accuracy Guarantees. With close to 6,000 franchised and company-owned locations, including 3,000 in Walmart stores, and online and mobile tax solutions, Jackson Hewitt makes it convenient for clients to file their taxes. For more information about products, services, and offers, or to locate a Jackson Hewitt office, visit www.JacksonHewitt.com or call 1 (800) 234-1040.
About Refund Advance
Refund Advance is an optional tax refund related loan provided by MetaBank® (it is not the actual tax refund) at participating locations. Available for a limited time. The amount of the loan will be deducted from tax refunds and reduce the amount that is paid directly to the taxpayer. Fees for other optional products or product features may apply. Tax returns may be filed electronically without applying for this loan. Loans offered in amounts of $100, $200, $500, $750, $1,000 or $3,200. Only $200–$400 available beginning December 18, 2017 with a paystub (or other acceptable pre-year-end income verification), and remaining amounts available upon filing tax return with Jackson Hewitt® through the IRS. Availability and loan amount is subject to satisfaction of identity verification, eligibility criteria, and underwriting standards. IRS delays may affect the delivery timing of loan proceeds. Disbursement rules apply. Funds loaded onto card within an hour and direct deposit next business day. Ask Tax Pro for details.
About Meta Financial Group®
Meta Financial Group, Inc. ("MFG") is the holding company for MetaBank®, a federally chartered savings bank. MFG shares are traded on the NASDAQ Global Select Market®. Headquartered in Sioux Falls, S.D., MetaBank operates in both the Banking and Payments industries through: MetaBank, its traditional retail banking operation; Meta Payment Systems, its electronic payments division; AFS/IBEX, its insurance premium financing division; and Refund Advantage, EPS Financial and Specialty Consumer Services, its tax-related financial solutions divisions.
SOURCE Jackson Hewitt Tax Service Inc.