The Earned Income Tax Credit

The earned income credit (EITC) is a tax credit for certain people who work and have earned income under $38,348 in tax year 2006. A tax credit usually puts more money in your pocket by reducing the amount of tax you owe.

Wisconsin Taxpayers may be eligible for both the Wisconsin EITC and the Federal EITC.

Homestead Credit

The homestead credit is designed to soften the impact of property taxes and rent on persons with lower incomes. The benefit available may take the form of an income tax credit or a direct refund. The credit is based on the relationship of your household income to the amount of your allowable property taxes and/or rent for the calendar year.

Wisconsin taxpayers can apply for the Homestead Credit on the state level.

Telephone Excise Tax Refund

Exclusive for this tax season, the Telephone Excise Tax Refund is a one-time payment that eligible taxpayers can request on their 2006 federal income tax returns. The refund gives back long-distance federal excise taxes paid in previous years.

Residential Energy Credits

Residential Energy Credits may be available to homeowners who have made purchases within the past year in order to make their homes more energy efficient.

What other programs or tax credits are you eligible for?

“Access Wisconsin” is a website that provides a quick and easy way for people in Wisconsin to find out if they’re eligible for state programs that provide:

• Help with buying food
• Low- or no-cost health care
• Help with buying prescription drugs
• Home energy assistance
• Special tax credits