Tag Archives: EITC
Taxpayers who earn low to moderate income may find some relief at tax time with the Earned Income Tax Credit (EITC), a refundable credit that seeks to help working families. The EITC works by reducing the amount of taxes you have to pay, and even if you don’t have any tax liability, you may receive […]
— Read moreTaxpayers who claim deductions typically understand that they have to be able to prove that they qualify for the deduction. For example, you know if you claim business expenses, charity gifts, or other costs for deduction, that you’ll need to supply documents such as receipts, cancelled checks, or bank statements in the event of an […]
— Read moreIt’s nice to work hard and get a bit of a break at tax time. The Earned Income Tax Credit (EITC) does exactly that for workers who earn a lower income, giving back some of the taxes these workers paid. It’s refundable, so eligible taxpayers without a tax liability can receive money back from the […]
— Read moreIf you’re disabled, you may be able to find a benefit at tax time with the Earned Income Tax Credit (EITC). eTax.com can help taxpayers with disabilities and parents who have disabled children determine if they qualify for the EITC. Disabled taxpayers may worry that taking the EITC and receiving a refund may disqualify them […]
— Read moreIn the Garden State, working families have the opportunity to claim a state version of the Earned Income Tax Credit (EITC), which seeks to put more money back into the taxpayer’s hands. Along with twenty-four other states and the District of Columbia, New Jersey enacted the EITC and modeled the state credit after the federal […]
— Read moreThe Earned Income Tax Credit (EITC) is one way that taxpayers can get back more of their hard earned money come tax time. Nebraska offers a state version of the credit, which is modeled similarly to the federal credit, as far as eligibility requirements go. A Nebraska taxpayer who qualified for the federal credit will […]
— Read moreWorking for low wages can be tough when trying to support a family. Thankfully, some relief is available through a tax benefit called the Earned Income Tax Credit (EITC). The federal government created the credit to give working families an incentive to continue to work and reduce poverty levels. The state of Virginia has enacted […]
— Read moreFor working families with lower incomes, tax time can be extra stressful. Thankfully, there’s the Earned Income Tax Credit (EITC), which seeks to return more of the taxpayer’s earnings by way of a refund. This credit is an important part of a poverty reduction plan, as it seeks to keep families working even under low […]
— Read moreOnce you’ve passed all the other requirements to claim the Earned Income Tax Credit, including understanding what counts as earned income, all that’s left is to understand the income limits. The limitations increase each year, and are dependent on the number of qualifying children and your filing status. For 2015 the Earned Income Tax Credit […]
— Read moreYou need to have lived in the United States for over half of the year in order to claim the Earned Income Tax Credit. For the purposes of the credit, the residency test includes any of the fifty states and the District of Columbia. Puerto Rico, Guam, and other U.S. possessions and territories are not […]
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