The following “heads up” was published
in yesterday’s “Workforce Weekly Updates,” as
an outline of our workforce plans to expand our annual EITC/Prosperity
efforts in coming months. A formal press release will issue
in early January, and this year we are partnering with United
Way and the Human Relations state organization and local members,
as well as the growing number of local Prosperity campaigns.
There is also a expanded element of financial literacy/education
and assistance in accumulating capital for home purchase or
improved rental housing. Any of your state organizations or
local affiliates/members that want to combine efforts or get
involved should contact the WFI coordinators listed below.
You can also go to our website at www.workforceflorida.com for the rest of the “Updates” and prior editions.
State-wide EITC outreach to launch on-going “Prosperity” initiative.
Florida’s Agency for Workforce Innovation and Workforce
Florida, Inc. are working in partnership with the HR Florida
State Council to ask businesses to help their workers take
advantage of the Earned Income Tax Credit (EITC). The EITC
is a refundable federal income tax credit for low to moderate
income working individuals and families. Taxpayers who qualify
and claim the credit can pay less federal tax, pay no tax
or even get a tax refund of up to $4,400. Based on information
from the IRS it is projected that as much as $635 million
goes
unclaimed by the estimated 350,000+ working families/individuals
in Florida who are not taking advantage of the EITC. The
outreach, planned to begin immediately after the New Year,
will involve
local workforce and HR professionals, in partnership with
other key community organizations around the state. A joint
state
level press release focused on the EITC and the Child Tax
Credit (CTC) will be issued by AWI, WFI and HR Florida leadership
in early January. A single state-level clearinghouse style
website will be available on the AWI website with links to
and from other state and local partner websites as well as
national resources. Messages will be directed to employers
on how they can use the EITC and the CTC to help their employees
boost their wages at no additional cost to the business.
More
net pay for workers as a result of accessing the EITC and
CTC can positively impact worker loyalty, retention and reduction
of staff turnover and recruitment costs. For example, with
the tax refund, an individual with a $7 hourly wage can realize
the equivalent of about $9 an hour. There is also the added
impact that goes beyond the individual and their family and
businesses as local communities benefit from additional consumer
activity. Follow up press releases, presentations and articles
will address the Advanced Earned Income Tax Credit program
and, as the year progresses past tax season, outreach will
shift toward addressing asset building and financial literacy.
For more information contact JenniLee Robins, WFI jrobins@workforceflorida.com
or Lucia Fishburne, WFI lfishburne@workforceflorida.com.
