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More families claiming California’s cash-back tax credit

 

Last updated 3/10/2017 at Noon

Eligible families who file their taxes by April 18 may qualify for CalEITC, or the federal EITC. Yuri Arcurs/Thinkstock photo

SACRAMENTO – On March 3, the Franchise Tax Board (FTB) announced a significant jump in the amount of California Earned Income Tax Credit (CalEITC) dollars issued to low-income families compared to the same time last year.

As of Feb. 25, the state has issued $132.9 million worth of CalEITC, a 50 percent increase over this time last year. About $88.9 million was issued at this point in last year’s tax season.

“This uptick is encouraging. These cash-back refunds boost the income of working Californians on the lowest rungs of the pay ladder,” said State Controller Betty T. Yee, chair...



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