WASHINGTON, D.C., June 25, 2008 — Wal-Mart Stores, Inc. (NYSE: WMT) will voluntarily notify its 1.4 million U.S. associates about eligibility requirements for the Earned Income Tax Credit (EITC) before the next tax filing season, Susan Chambers, executive vice president of the company’s global people division announced today on Capitol Hill.
Chambers joined Sen. Charles Schumer (D-NY) and Rep. Rahm Emanuel (D-IL) at a press conference to lend Wal-Mart’s support for the legislators’ bill to educate workers about the availability of the EITC. Under this proposal, employers would notify their workers that they may qualify for the Earned Income Tax Credit. The notification would occur annually on the employee’s W-2 form. Wal-Mart already conducts a similar notification in the State of California.
As many as one in four Americans eligible for the EITC do not claim it on their tax return.
“We want to provide our associates with useful information to help them save money and live better,” Chambers said. “We will explore other ways to make Wal-Mart associates aware of the Earned Income Tax Credit through pay stub messaging, information in our break rooms, and our internal associate Web site.”
“We believe we have an obligation to help every associate realize their potential in ways that open the door to career opportunities, build our business, and better serve our customers,” Chambers continued.
Congressman Emanuel added, “American families are struggling to get by. The cost of gas, food, education, and health care are skyrocketing. Yet millions of Americans aren’t claiming the Earned Income Tax Credit and losing out on the tax benefits that could help them make ends meet. We can’t sit by and let hard-working Americans leave $14 billion on the table. Our bill is a common sense plan – backed by Wal-Mart, SEIU and a host of other organizations – that will help ensure the American people get the tax benefits they deserve.”
About Wal-Mart Stores, Inc. (NYSE: WMT)
Wal-Mart Stores, Inc. operates Wal-Mart discount stores, supercenters, Neighborhood Markets and Sam’s Club locations in the United States. The Company operates in Argentina, Brazil, Canada, China, Costa Rica, El Salvador, Guatemala, Honduras, Japan, Mexico, Nicaragua, Puerto Rico and the United Kingdom. The Company's common stock is listed on the New York Stock Exchange under the symbol WMT. More information about Wal-Mart can be found by visiting www.walmartstores.com. Online merchandise sales are available at www.walmart.com and www.samsclub.com.
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