The City of Philadelphia requires employers to inform their workforce about the Earned Income Tax Credit (EITC) availability. This notification, typically distributed annually, provides information about eligibility requirements, how to claim the credit, and available resources for assistance. An example of such a notice might include details about the federal EITC as well as the potential availability of a local Philadelphia EITC.
These notices play a vital role in promoting financial stability for low- to moderate-income working individuals and families. By raising awareness of the EITC, the city aims to ensure that eligible residents receive the tax benefits they deserve, which can significantly impact their financial well-being. Historically, EITC outreach efforts have proven to be an effective tool in poverty reduction and economic empowerment. Providing this information to employees annually helps ensure consistent awareness and maximal utilization of the credit.
