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Collecting Unclaimed Property, Getting help by filing your taxes

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Collecting Unclaimed Property: Once again, it’s that time of year. The snow is melting (almost) and the days are lengthening. It’s also tax season in Maine, which means it’s time for Mainers to file their returns. Claimed & Get your unclaimed money in Florida Here

Getting Unclaimed Money in 2022

While no one enjoys filing taxes, I hope to provide you with some knowledge that will assist you in this process.

This can be a difficult time of year, but I’d like to make things a bit easier for you this tax season – and ensure that you get the most money back possible.

I hope you are aware of the Maine Earned Income Tax Credit when you file your taxes (EITC). The Earned Income Tax Credit (EITC) is a labour credit that can help you get money back or reduce the amount of federal taxes you owe. The most important criterion is that you have a source of income.

Beginning this tax season, the Maine EITC is equal to 20% of the federal EITC, resulting in a $1,345 refund.

The Maine EITC may apply to persons who filed a federal income tax return using an individual taxpayer identification number in addition to those who qualified for the federal EITC (for those who do not have a Social Security number).

It may also apply to those aged 18 to 24 who do not have any qualified children. Maine residents, as well as part-year residents, are eligible for the EITC.

To claim the Maine EITC, go to www.maine.gov/revenue/tax-return-forms and fill out Form 1040ME, Schedule A, and the Worksheet for Earned Income Tax Credit.

On weekdays from 9 a.m. to noon, you can contact Maine Revenue Services at (207) 626-8475 or income.tax@maine.gov for assistance.

Now that we’ve reviewed the EITC, I’d like to tell you about a service that can assist you with filing your taxes for free.

CA$H, that’s right. Maine may be able to assist eligible Mainers in filing their taxes for free.

Your household’s combined annual income must be $58,000 or less to qualify for free help.

You can’t have any uncommon sources of income with more than $35,000 in expenses, such as farm income, rental property, or self-employment.

In 2021, no one in your family could have lived or worked outside of Maine.

CA$H Maine’s devoted and competent volunteers will assist you in determining whether you are eligible for the Maine EITC, the Child Tax Credit, and other tax credits.

These two credits can be worth up to $6,728 when combined. The Maine Property Tax Fairness Credit and the Maine Sales Tax Fairness Credit are both available to many Maine citizens.

For more information, go to cashmaine.org/free-tax-preparation or contact the York County CA$H Coalition (YCCC). Mesha Quinn, of the York County Community Action Corporation, can be reached at (207) 459-2933 or Mesha.Quinn@yccac.org.

To conclude, I’d want to encourage everyone to check online to see whether they have any unclaimed property held by the Office of the Treasurer.

Treasurer Henry Beck said earlier this month that the Treasury now has $17.6 million in new unclaimed property.

This is money that the Treasury seeks to return to Mainers, such as unpaid invoices or uncollected wages. Please go to maineunclaimedproperty.gov and look for your name to claim the money.

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