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Written by Congressman Rick Boucher
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January 31 has been designated by the Internal Revenue Service as Earned Income Tax Credit Awareness Day. More than 22 million taxpayers took advantage of the Earned Income Tax Credit (EITC) and received more than $43 billion in refunds for the 2006 tax year; however, the IRS estimates that 20 percent of taxpayers eligible to receive the EITC did not claim this benefit and were unable to collect the tax credit they were rightfully owed last year. |