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City of Little Rock Public Relations
Office (501) 371-4421

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Contact(s):Meg Matthews
(501) 371-4421

FOR IMMEDIATE RELEASE :
Tuesday, August 7, 2012

Earned Income Tax Credits for Downtown Businesses

Contact:

 

Sharon Priest

Executive Director

Downtown Little Rock Partnership

501.375.0121

spriest@downtownlr.com

 

Jeff Newcorn

CEO

R. Jeffrey & Associates

847.795.1400 (o) 224.420.2846 (m)

jeff.newcorn@rjeffrey.com

 

For Immediate Release:

 

Downtown Little Rock Partnership Urges Empowerment Zone Businesses to

Act Now to Secure Earned Federal Tax Credit Refund Checks

 

(August 7, 2012) – Little Rock, AR – Downtown Little Rock Partnership executive director Sharon Priest today alerted Pulaski Empowerment Zone business owners that time is running out to secure their Federal Tax Credit refunds.

“Time is very critical,” Priest said. “As of this month, business owners have less than seven months to amend their 2009 tax returns to secure their refund checks.”

She said although the Empowerment Zone tax credits program has expired, eligible business owners could still receive significant tax refunds for 2009, 2010 and 2011 if they act now.

“On average, a company earns about $5,000 in tax credit for each $100,000 of employee payroll,” she added. “I believe most Zone businesses have dramatically underutilized their tax credit refund opportunity.”

The Downtown Little Rock Partnership is pleased to sponsor a presentation by Federal Tax Credit Advocate Jeff Newcorn, CEO of R. Jeffrey & Associates (RJA). The event will be held Friday, August 10 at 11:30 a.m., Downtown Little Rock Partnership, Lafayette Square, 523 S. Louisiana Street, Suite 305. Lunch will be provided. Reservations may be made by calling 501.375.0121 or emailing spriest@downtownlr.com.

“It is very easy for qualified business owners to obtain their tax refund checks,” Newcorn said. “Owners can realize the cash windfall while staying focused on their businesses.”

He said the critical threshold is sufficient in-zone payroll from which we can work out the tax credits. “We analyze the employment data and prepare documents for owners and their accountants,” he said. “Amended tax returns are submitted for the eligible tax years of 2009, 2010 and 2011. Tax credit refund checks will then be sent by the IRS to the Zone business owners.

 

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Becky Cooke Falkowski

Director of Public Relations, Communications & Membership

 

DOWNTOWN LITTLE ROCK PARTNERSHIP

LAFAYETTE SQUARE  523 S. LOUISIANA STREET, SUITE 305

LITTLE ROCK, ARKANSAS 72201

501.375.0121 W or 501.366.3265 C

 

MAIL: P.O. BOX 1937

LITTLE ROCK, ARKANSAS 72203

 

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