The 1099s are hitting mailboxes, and with the economy in a tailspin, we wanted to let your self-employed, freelance, and independent contractor members know about an aggressive tax-time effort that’s helping struggling families get little-known tax benefits worth hundreds of dollars.
Last year, Freelancers Union campaigned to reform the Unincorporated Business Tax, and with your help, saved 17,000 freelancers more than $25 million. This year, we’re expanding our outreach and services by launching a program that provides free tax preparation assistance in Brooklyn and an online resource that anyone statewide can use to claim their credit (http://www.freelancersunion.org/advocacy/tax-resources.html)
As layoffs have continued throughout the past year, thousands have gone from full-time positions to having to make a living outside the traditional 9-5 world.
The Making Work Pay Tax Credit is a $400 tax credit (double if people file jointly) that the self-employed qualify for and which was a cornerstone of President Obama’s American Recovery and Reinvestment Act. However, it only works if people claim it. That’s why Freelancers Union is encouraging independent workers—particularly the newly self-employed—to claim this crucial financial windfall at our free tax assistance center.
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