NEWARK, N.J., Feb. 16, 2012 /PRNewswire/ -- PSE&G
urges New Jersey's workforce
members who are in financial difficulty to see if they are eligible
for the 2011 Earned Income Tax Credit (EITC). This special credit
reduces the amount of taxes owed by eligible workers and sometimes
provides a tax refund as well.
Many people who qualify for the credit, offered by New Jersey and by the federal government, are
confused about how to apply for it. Depending on their income,
individuals who worked full- or part-time or were self-employed in
2011 may qualify for the credit regardless of whether they are
married or have children.
New parents, foster parents, and grandparents raising
grandchildren all may be eligible. Some families, including those
raising children with disabilities and those in the military, often
don't know that special rules may make them eligible as well.
Each year the EITC puts billions of dollars into the hands of
millions of lower- to middle-income workers. For their 2010 taxes,
nearly 26.8 million eligible families and individuals claimed EITC
worth nearly $59.5 billion.
Approximately 527,950 of those received an additional $232 million in state EITC benefits. The
average state EITC credit amount was $439.
New Jersey residents should
know that those eligible for the New Jersey EITC must file a state
resident income tax return, even if they have no tax liability to
New Jersey and do not usually file
a state tax form.
"EITC can be a boost for working people hit by hard economic
times," said Joe Forline,
PSE&G's vice president of customer operations. "If you lost
your job in 2011 or had your work hours reduced, you might not
realize that your decreased income qualifies you for the credit
this time."
The state of New Jersey has
launched a public awareness campaign to promote the tax benefit and
urges all eligible residents to take advantage of the program. The
New Jersey Department of Human Services-Division of Family
Development, PSE&G, the Association for Children of
New Jersey, and the Internal
Revenue Service (IRS) are working together to spread the word. As a
result of our collective efforts to alert eligible taxpayers about
EITC, the latest data indicates more qualified taxpayers are
getting the credit. The IRS estimate four of five eligible
taxpayers received their EITC last year. This means that millions
of additional taxpayers are getting the credit they have
earned.
PSE&G includes EITC information on the company's Web site at
www.pseg.com/eitc and in customer bill messages during the first
few months of the year. In addition, several of PSE&G's 16
Customer Service Centers display EITC information at the
centers.
New Jersey individuals and
families whose 2011 earnings were lower than $49,000 can get their taxes prepared free of
charge. To find out where you can get free help filing your taxes,
call the NJ Community Resource Hotline at 211 or
1-877-652-1148.
"Outreach and tax assistance play an important role in
connecting New Jersey's
lower-income workers to greatly needed tax credits," Forline said.
"EITC can make life a little easier."
For general information, visit www.njeitc.org.
For information on the Federal EITC, call 1-800-829-1040 or
visit www.irs.gov/eitc.
For information about the New Jersey EITC, call 1-866-698-9065
or visit www.njtaxation.org.
Public Service Electric and Gas Company (PSE&G) is
New Jersey's oldest and largest
regulated gas and electric delivery utility, serving nearly
three-quarters of the state's population. PSE&G is the winner
of the ReliabilityOne Award for superior electric system
reliability. PSE&G is a subsidiary of Public Service Enterprise
Group Incorporated (PSEG) (NYSE: PEG), a diversified energy company
(www.pseg.com).
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SOURCE Public Service Electric and Gas Company (PSE&G)