Earned Income Tax Credit
Getting married should be one of the happiest events of your life. But even if everything goes perfectly on your special day, the IRS may spoil the party. That's because getting hitched means big changes on your taxes. Here's a quick rundown of what you need to know.
Tax Time for Single Parents Can Be Doubly Aggravating
11:00AM 2/09/2012
At tax time, being a parent comes with certain perks: the Child Tax Credit, the Child and Dependent Care Credit, a bigger Earned Income Tax Credit, among others. But while single parents have many of the same breaks as married parents, there are some they miss out on.
IRS to Offer Earned Income Tax Credit Assistance This Weekend
5:30PM 1/28/2011
The Earned Income Tax Credit (EITC) is one of the federal government's largest benefit programs for working families and individuals. Unfortunately, unlike other benefit programs, the EITC is not automatic. In order to get the credit, taxpayers must file a tax return and specifically claim the...
Taxpayers often use the terms "deduction" and "credit" as though they're the same thing. They are not. They're actually very different terms, and being aware of the distinctions between the two can help you make good choices at tax time -- and maybe put some extra money back in your pocket.
A...
Tax credits are popular ways to reduce your overall tax burden. Credits are dollar for dollar reductions in the amount of tax due, so it's a pretty big bang for your buck. Here are five of the most common tax credits:
1. Credit for Child and Dependent Care Expenses. The credit for child and...
As April 15 creeps closer, many taxpayers are focusing on refunds. While those taxpayers rush to file their returns on or before Tax Day, the tax deadline takes on a whole other meaning for others. April 15 is not only Tax Day for the 2009 tax year -- it's the last day to claim a refund for the...
File your taxes free with the help of Walmart, United Way and others
12:00PM 2/05/2010
Great news for anyone who makes under $58,000. You'll be able to file your taxes for free, including free tax prep, thanks to a $4 million grant from the Walmart Foundation to United Way Worldwide, One Economy and the National Disability Institute. This is the second year for the free tax prep...
The tax credit you may not be aware of -- do you qualify?
2:00PM 2/01/2010
In late January, the IRS and Treasury Department organized EITC Awareness Day to highlight the availability of the tax credit. According to the IRS, nearly 24 million people took advantage of the Earned Income Tax Credit last year, receiving nearly $50 billion in benefits.
Just because EITC...
Tax credits are popular ways to reduce your overall tax burden. Credits are dollar for dollar reductions in the amount of tax due, so it's a pretty big bang for your buck. Here are five of the most common tax credits:
Credit for child and dependent care expenses. The credit for child and...
Like death, taxes are one thing you can count on and preparing taxes can be a trying experience especially if you haven't kept up with the numerous tax credits that are available. Thankfully the IRS has partnered with volunteers to provide free tax preparation assistance to individuals making less...
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