The Michigan Economic Impact Coalition
Made up of statewide and local organizations and public agencies, the Michigan Economic Impact Coalition is committed to supporting work and reducing poverty for Michigan’s low to moderate income individuals and families through outreach on available tax credits and refunds, including the federal and state earned income credit. It also promotes asset building, financial services and financial security. The coalition is administered by the Community Economic Development Association of Michigan (CEDAM), with website and list serve support provided by the Michigan Poverty Law Program and statistics and research contributed by the Michigan League for Public Policy.
Show Me the Money Day Events, 2013Show Me the Money Day is an annual statewide event in Michigan held on the last weekend in January. Local events held across the state provide Michigan residents access to numerous community resources through vendor fairs and free financial education classes. Stay tuned for information about this year's Show Me the Money Day Events!
New for Tax Year 2012: Earned Income Tax Credit Figures
Earned Income and adjusted gross income (AGI) must each be less than:
- $45,060 ($50,270 married filing jointly) with three or more qualifying children
- $41,952 ($47,162 married filing jointly) with two qualifying children
- $36,920 ($42,130 married filing jointly) with one qualifying child
- $13,980 ($19,190 married filing jointly) with no qualifying children
Tax Year 2012 maximum credit:
- $5,891 with three or more qualifying children
- $5,236 with two qualifying children
- $3,169 with one qualifying child
- $475 with no qualifying children
Investment income must be $3,200 or less for the year.
(Source: Internal Revenue Service website)
The Michigan Earned Income Tax Credit is equal to 6% of a filer's Federal Earned Income Tax Credit.
MEIC Members in the news
EITC in the news
VITA Helps Improve Taxpayers’ Understanding of Their Taxes
Free Tax Help
In January, check back here for a list of places where you can get your taxes done, for free!
Videos to promote the EITC and VITA
http://uk.youtube.com/watch?v=fX5HHrMyi_I - short version
http://uk.youtube.com/watch?v=y3y6qxfQkp8 - long version
Michigan Economic Impact Coalition Goals
1. Strengthening access to affordable, ethical tax preparation services for the working poor
2. Maximizing the value of income supports for working households
3. Advocating for and taking legislative action regarding policy that advances the working poor toward financial security
Michigan Economic Impact Coalition Members
American Association for Retired Persons (AARP)--Michigan Chapter
Cass County EITC Coalition
ELGA Credit Union
Federal Deposit Insurance Corporation (FDIC)
Federal Reserve Bank of Chicago
Financial Health Credit Union
Genesee County Tax Coalition
Internal Revenue Service- Michigan SPECS Office
Lighthouse of Oakland County
Michigan Association of CPAs
Michigan Community Reinvestment Coalition
Michigan Municipal League
Michigan State University Sustainable Food Systems
Michigan Works! Association
Volunteer Centers of Michigan
Wayne County Asset Building Coalition
There is a Michigan Economic Impact Coalition List serve for those who would like to receive notifications about coalition activities. If you are interested in being on the listserve, please e-mail Ross Yednock at yednock (at) cedam (dot) info or call 517/485-3588.