Quinn reminds residents of earned income tax credit

April 10, 2012 3:12:40 PM PDT
Governor Pat Quinn urged people entitled to the earned income tax credit to make sure they apply for it.

Quinn went to the Center for Economic Progress at Harold Washington College, where people can get help filling out their tax forms. Walmart is giving $50,000 to assist in that effort.

The Illinois earned income credit is now five percent and will rise to 10 percent over the next two years. But by one estimate between 10 and 20 percent of eligible taxpayers don't apply. The center aims to change that.

"This year when we add up all the dollars and change we will reach the $500 million mark in total refunds generated in tax credits, benefits as well as college financial aid," Quinn said.

It's estimated the earned income credit saves low income Illinois families more than $100 million dollars a year.