The deadline to file your tax return is coming up fast, but that doesn’t mean you can’t make sure you’re getting all the tax benefits you deserve. For busy parents who are crunched for time, I’ve compiled a list of tax credits and exemptions that can help as you prepare your taxes.
IRS kicks off tax season just in time for EITC Awareness Day today. The earned income tax credit has helped millions of hard-working Americans get out of poverty and can be a credit worth up to $6,044 depending on your income. Phil Taylor answers common questions to help you understand more about the Earned Income Tax Credit.
Did you have a baby this year? If so, congratulations on the little tax deduction! Fortunately, along with your new baby, your family is now eligible for new tax deductions as well. Don’t overlook the tax advantages that come when you add a new member to your family.
National Earned Income Tax Credit Awareness Day is January 25th and we want to help bring awareness to EITC and remind you that this tax credit can be worth up to $5,800, but you have to file your taxes to get it. Ginita Wall gives us more details on one of the most commonly overlooked tax credits.
With election day here, refundable tax credits are top of mind for many Americans since they remain a big part of the debate over taxes and the IRS estimated that in 2009 the Earned Income Tax Credit lifted nearly $7 million people out of poverty. Micheal Rubin explains what the Earned Income Tax Credit is and why you shouldn’t miss out on the valuable tax credit.
A popular tax credit people once had the last couple of tax seasons was the Making Work Pay Credit. Many taxpayers are asking if it has been extended or whether it’ll return, but to date it is no longer available as it expired December 31, 2010. The Making Work Pay Tax Credit was replaced by the Payroll Tax Holiday and will not impact your tax return.
The Retirement Savers Credit is a tax incentive to save for retirement. In exchange for you putting money in a qualified retirement account such as a 401(k), IRA, Roth IRA, or 403(b), the government reduces your taxes. Find out more.