The Work Opportunity Tax Credit is a general business credit available to employers who hire people from targeted groups who face significant barriers to employment. These targeted groups include certain veterans, recipients of supplemental security income benefits, formerly incarcerated individuals, summer youth employees, and vocational rehabilitation referrals. This credit encourages workplace diversity and creates access to [...]
Did you know the Earned Income Tax Credit (EITC) can add $6,700 to your federal income tax refund? If you worked and earned low-to-moderate income last year, you might be able to claim the EITC when you file your taxes. The EITC can be worth several thousand dollars if you have children. Taxpayers who do not [...]
A Massachusetts tax professional can help prepare your taxes or represent you in an appeal or collection case. So, how do you find the right tax professional for you? You can do so through one of these professional member organizations: the Massachusetts Society of Enrolled Agents (whose tax practitioners are licensed by the Department of Treasury [...]
The Earned Income Tax Credit (EITC) helps workers and families who don't make a lot of money get a tax break. If you qualify, you can use the credit to reduce the taxes you owe - and maybe even get a bigger refund. The credit is usually higher for eligible working families, but many lower-income workers [...]
Here are the top five things you can do now to make filing your taxes go smoothly: Set up an online account at IRS.gov/account. It will allow you to make payments, verify the amounts of your economic impact payments, and get information about your Advance Child Tax Credit payments. Gather and organize your tax records. This [...]
