Earned Income Tax Credit
EITC/ACTC Refunds: Is Yours Delayed? Get Updates Here Are you anxiously awaiting your Earned Income Tax Credit (EITC) or Additional Child Tax Credit (ACTC) refund? The Internal Revenue Service (IRS) has kicked off the 2024 tax season by dispatching tax refund returns to eager Americans. On Tuesday, February 27, the IRS began the process, and thousands of eligible taxpayers are […]
How Long Does It Take to Get Your Tax Refund If You Claim EITC or ACTC? Are you wondering when you will receive your tax refund if you claimed the Earned Income Tax Credit (EITC) or the Additional Child Tax Credit (ACTC)? You are not alone. Many taxpayers who are eligible for these credits are […]
Unraveling the Updates: What’s New with Dependents This Year Welcome to a new year, and with it, new rules, and regulations for claiming dependents on your tax returns. The tax laws have changed and you can no longer deduct dependents from your income. However, you may be eligible for new tax credits if you have […]
Do I Need to Submit a Tax Return? Understanding Your Obligations and the Benefits of Filing Even When It’s Not Required Are you wondering whether you need to file your taxes this year? Filing taxes can be a daunting task, but it’s essential to ensure that you’re not missing out on any potential refunds or […]
2023 Updates on Tax Credits for Children and Other Dependents The Child and Other Dependents Tax Credits are two of the most beneficial tax credits for families with children or other dependents. They can reduce your tax liability and increase your refund, depending on your income and filing status. However, these credits have undergone some […]
The Earned Income Credit (EIC) is a federal tax benefit designed to help low-income working families keep more of their hard-earned money. Learn more about the EIC, including who’s eligible and how to claim it. Are you a low-income worker who’s trying to make ends meet? If so, the Earned Income Credit (EIC) might be […]
The Ultimate Guide to Understanding Tax Requirements for Dependents Summary A dependent for tax purposes is a person who you support financially, such as a child, elderly parent, or disabled relative. Tax exemptions are amounts that you can deduct from your taxable income. There are several tax credits that are specifically designed to help taxpayers […]
American Rescue Plan changes can boost refunds for many families, people should file even if they haven’t for years WASHINGTON — The Internal Revenue Service today urged Americans to file a 2021 federal income tax return so they can take advantage of key tax benefits included in the American Rescue Plan and other recent legislation. […]
Do I Qualify for Earned Income Credit While on Unemployment? Receiving unemployment benefits doesn’t mean you’re automatically ineligible for the Earned Income Credit, but there are other requirements you’ll also need to satisfy to claim the EIC. As the name implies, to be eligible for the Earned Income Credit you must “earn” income such as […]
New tax rules may mean bigger refund for young workers and retirees with side jobs The woman had Social Security benefits, a tiny pension that amounted to less than $1,000 for all of 2021, and she earned around $2,500 working as seasonal help at a local store. “She wanted to make sure her friends and family […]