It’s safe to say that everyone relishes the idea of finding the odd $5 bill found wedged under a couch cushion—a discovery best chalked up to good luck or fate. Finding $5,700 in your “metaphorical pocket,” now that’s taking it to a new level and it has nothing to do with luck.
Today, Intuit announced EITC Finder, a free mobile app to help taxpayers find and claim an oft overlooked tax break, the earned income tax credit. EITC Finder is the latest example of Intuit’s commitment to improving financial lives and promoting financial literacy. The company, through the Intuit Financial Freedom Foundation, has a long history of partnering with non-profits and the government to help individuals prepare and file their taxes for free.
According to the IRS, it’s estimated that between 20 to 25 percent of qualified workers miss out on the earned income tax credit annually. Intuit’s EITC Finder helps users through a series of simple questions ranging from marital status to wages, and then estimates how much money will likely be applied to their federal and state refunds. The app then shows users how to claim the credit using free products offered through IRS Free File, a public-private partnership between the IRS and tax software companies like Intuit.
Intuit’s Free File product offering, TurboTax Freedom Edition, has long been known for simplifying taxes and taking some of the pain out of running the annual numbers. Since 1998, Intuit has donated more than 22 million returns to low- and moderate-income taxpayers.