Yahoo! Finance: Young workers may see $800 more in their tax refunds this year

Many young workers may get an extra $820 in their tax refund this year because of the expansion of a key poverty-fighting credit, a new analysis found.

The expanded Earned Income Tax Credit (EITC) will reach more than 1 in 3 young adults this year, according to the report from the Institute on Taxation and Economic Policy (ITEP), totaling 5 million workers and 37% of the childless young adult population aged 19 to 24.

The actual benefit may be higher or lower than the average, ranging from $600 to $1,060, depending on which state a worker resides in. Read more

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