Arkansas is sitting on millions in unclaimed money. As per the recent news reports, the state of Arkansas is said to be sitting on top of a pile of a massive pile of 76 million dollars of unclaimed money.
The state is currently riding on a high pile of 76 million dollars of unclaimed federal assistance money. This money was actually raised for the low-income families residing in the state, but due to some concerns, the amount remains unclaimed. The state treasury is asking people to search the database of the state of Arkansas to get information on the total amount pending under their name. Non-state sponsored websites may also prove to be a good source of information for the claimants to get information on the total amount of unclaimed federal money pending under their name.
The EITC finds unclaimed money worth 76 million dollars with the state government treasury belong to about 50,000 eligible people that have still not been claimed. The amount worth $150,000 has been awarded to the WRF so that it makes sure maximum families this year come forward to claim what is supposed to be rightfully theirs.
A small amount of this donation will also be given to the Arkansas State University located at Mountain Home, which will work with the local communities of the region to prepare tax-free sites in the counties of Jefferson, Baxter, Pulaski, Polk, and Mississippi.
The poverty level of people living in the state is really high, and with this huge amount of money left unclaimed, the government could play an important role in improving the standard of living of 18.5 percent of the families that is living below the poverty line.
Some experts are suggesting the state wide implementation of Earned Income Tax Credit to improve the situation of people living here. Other than that, Arkansas is also interacting with the families directly with the help of educational booths and campaigns to let the people know about the money they are entitled to by the government. Arkansas is working hard to return this unclaimed money back to the low-income families that need it most.