In this episode of "The Tale of the Complicated Household," learn more about who can claim the Earned Income Tax Credit. Don't forget that the law about who can claim a child changed over the last few years. If a parent and non-parent both meet EITC requirements, the non-parent must have the higher AGI. If you [...]
The IRS conducts audits by mail to verify a taxpayer's eligibility for child-based refundable credits, such as the Earned Income Tax Credit. Typically the IRS holds the refund until the audit is complete. For Earned Income Tax Credit audits, you'll usually need to provide documentation verifying your relationship to the children claimed and that they lived [...]
This article was published by the IRS. By law, taxpayers interacting with the IRS have the right to finality. This right comes into play for taxpayers who are going through an audit. These taxpayers have the right to know when the IRS has finished the audit. This is one of ten basic rights — known collectively [...]
This article was published by the IRS. Capitalizing on Inflation Reduction Act funding and following a top-to-bottom review of enforcement efforts, the Internal Revenue Service has announced the start of a sweeping, historic effort to restore fairness in tax compliance by shifting more attention onto high-income earners, partnerships, large corporations, and promoters abusing the nation's tax [...]
The IRS conducts audits to verify income, deductions, expenses, and credits claimed on tax returns. Here's what to do if you receive a letter that says the IRS is auditing your tax return by mail. First, read the letter carefully. It explains the issues involved and outlines the types of information you need to send us. [...]
