Assemblyman Phil Goldfeder (D-Howard Beach) is encouraging residents to take advantage of the state’s numerous tax credit opportunities and claim tax breaks that could potentially help individual households save thousands of dollars.
“Every year, too many working families miss out on savings because they fail to claim several federal and statetax credits that are available to them,” Goldfeder said in a prepared statement. “These tax credits are important to keep our communities affordable and are intended to provide our families with much-needed tax relief.”
Current programs that households may qualify for include the Empire State Child Credit, a refundable tax credit worth up to $330 per child for ages four to 16; the Child and Dependent Care Credit, a tax credit for working parents who pay for child care based on sliding scale depending on income and the number of dependents; the federal Child Tax Credit, a partially refundable tax credit of up to $1,000 per child; the Real Property Tax Credit, a refundable tax credit worth up to $375 for eligible homeowners and renters; and the New York City Tax Credit, a refundable tax credit of up to $125 for qualifying taxpayers.
Additionally, tax preparation assistance is available for the elderly through the Tax Counseling for the Elderly, or TCE, program, which helps people ages 60 and older with their tax returns at no cost. To find the nearest VITA or TCE site, call 800-906-9887 or visit www.irs.gov/Individuals/Find-
“Tax season can be a stressful time of the year, but it’s important that all families take the time to ensure they are taking advantage of every eligible break to see thousands of dollars in potentially savings,” Goldfeder said. “Many of these opportunities are often overlooked, but can go a long way toward helping cover some of our day-to-day expenses and save for the future.”
For information or questions on state taxes, visit www.tax.ny.gov or call Goldfeder’s office at 718-945-9550 or email GoldfederP@assembly.state.ny.
