Tax season is here. For many Texas families, the substantial tax refund they will get back is vital to their overall budget.
The Earned Income Tax Credit the most successful income supplement for working families, lifting millions of Americans, including about 765,000 Texans, out of poverty. Low-income children in families that receive the tax credit go farther in school and, as a result, work more and earn more as adults. Last tax season, 2.6 million Texans received the credit, claiming $6.9 billion, or approximately $2,600 per filer. Because tax refunds represent the largest single payment many low-income families receive all year, tax time creates an important opportunity for families to save for a more secure future.
You can read the full piece on the Austin American-Statesman website.