What does tax season mean for you? Paperwork, owing money, and awaiting a tax refund may be on most people’s minds.
For April’s Regional Snapshot, we look at the most recent tax filer data (2013) for metro Atlanta and at the zip code level in the region. Specifically, we explore the Earned Income Tax Credit, Child Tax Credit, and trends in Adjusted Gross Income. This analysis uses data and tools from IRS, Brookings, and Neighborhood Nexus.
You can click through the full slide deck at the bottom of the page, or click here for a PDF: http://documents.atlantaregional.com/snapshots/AprilTaxSnapshotARC.pdf
Highlights of metro comparisons and zip code level analysis are shown below.
82.7% of tax returns in metro Atlanta that received the EITC also received the CTC/ACTC.
Zip code analysis:
For an EITC taxpayer with an AGI of $15K: $2,906 EITC + $1,309 ACTC = $4,215 in additional income
The additional income through the EITC combined with an ACTC refund would boost their income by 28%