MBN USA

March 09, 2022

UnFollow View Profile Send Message Copy Link

UnFollow View Profile Send Message Copy Link

Check out Small Business for America’s Future tool kit

SBAF's Earned Income Tax Credit Toolkit: What Employers Need To Know

The EITC provides greater economic security for working families, especially those with children. It has evolved into one of the federal government’s most critical antipoverty programs, lauded by both Democrats and Republicans

Use our toolkit to learn more about the EITC and how it can help you and your employees

How the EITC Benefits Employers

The Earned Income Tax Credit benefits employers and businesses by:

Encouraging employees to stay in the workforce

• Designed to encourage and reward participation in the labor market
• Entering the labor force means receiving earned income and a tax credit worth thousands of dollars

Effectively giving employees a raise at no additional cost to your business

• Employees get a tax break, effectively putting more money in their pockets
• Increases participation in the labor force with little to no effect on the number of hours worked

Helping grow your business’s bottom line

• Directly linked to lower rates of employee turnover
• Establish better relationships between employers, management, and employees