Assemblyman Fred W. Thiele, Jr. (I, D, WF-Sag Harbor) announces that many New York State residents may be eligible for a special tax credit this year and not even know it.

The Earned Income Tax Credit (EITC) is a federal income tax credit for people who work but do not earn high incomes. Income and family size determine a taxpayer’s eligibility and the EITC amount a taxpayer can receive. Anyone earning $50,000 or less from wages, self-employment or farming in 2011 should see if they qualify

“During these tough economic times, EITC is a great financial boost for working families and individuals,” states Thiele. “Beginning just last year, many Long Islanders now qualify for this credit due to changes in their incomes or changes in their marital or parental statuses.”

This year, federal EITC refunds could put up to $5,800 into the pockets eligible taxpayers.

In an economy with increasingly high tax burdens, this tax credit can go a long way in easing day-to-day living expenses, allowing families to stay in their homes, and assisting in paying bills. EITC can also provide a boost to the local East End economy during tax refund season.

To learn more about the federal EITC and your eligibility, please visit the IRS online at www.irs.gov. To learn more about free volunteer tax preparation sites and assistance call 1-800-906-9887.

For information on New York State taxes and the State EITC, visit www.tax.state.ny.us.