Tag Archives: EITC

Often, taxpayers qualify to claim the Earned Income Tax Credit (EITC), however they forget when they file their return. The IRS reports that one out of every five qualified taxpayers don’t claim the credit. Like all tax credits, the EITC decreases the amount of taxes you owe the IRS, and depending on the number of […]

Most taxpayers know that there are certain income limitations that they must fall under to claim the Earned Income Tax Credit (EITC), however income is not the only thing that can affect your eligibility. The other requirements one must meet in order to claim the EITC follow: You must have at least $1.00 in earned […]

This year, don’t forget to take advantage of tax credits and benefits that can save your family money. The following credits are important to taxpayers and their families: Child Tax Credit: is worth up to $1,000 per child, depending on income. The higher your annual income, the smaller the credit. Married taxpayers who file jointly […]

It’s common for many people to make a little mistake on their tax return. In doing so, it can delay your refund. However, if you make a mistake when claiming the Earned Income Tax Credit, you may wait months to receive that portion of your refund. Depending on the situation, some errors can lead to […]

Tax credits can really make a difference for your refund at tax time. Refundable tax credits are even better, as they can offer you money back even if your tax liability is reduced to zero. One of the most popular refundable tax credits you may be eligible to claim is the Earned Income Tax Credit. […]

Unfortunately, every tax year 20% of Americans who are eligible for the Earned Income Credit don’t claim it, which can mean a loss of $2,400 for those taxpayers. It’s simple to determine your eligibility, so there’s no reason you shouldn’t claim the credit if you can. If you have qualifying children, the income threshold goes […]

Working taxpayers with lower incomes may qualify for a special credit called the Earned Income Tax Credit. It helps ensure those who can work, do, by offering an incentive to low income taxpayers. Next to Medicaid, this credit comes in second as far as the amount of help it provides to taxpayers at lower income […]

Parental Tax Credits

As a parent you may be eligible for additional tax credits. The IRS provides credits that are geared towards parents, these credit can help offset the cost or raising children and can help you save money at tax time. The credits below can be claimed on children who are considered dependents including children born in […]

The Earned Income Credit was put into place almost 40 years ago. This credit has been helping low and moderate income workers boost their revenues. The IRS would like to see everyone that is eligible claim the credit, currently only 4 out of 5 workers are actually claiming the Earned Income Credit. If you qualify […]

Five Helpful Tax Credits

There aren’t many things that can make you happy when it comes to paying taxes. But tax credits can help brighten your day lower your tax liability, it is a good idea to be informed which credits you qualify for and how you can go about claiming them. By using tax credits you lower the […]