This article was published by the IRS. Not everyone is legally required to file a federal tax return. However, not doing it could be leaving money on the table. People could be missing out on refundable tax credits or an income tax refund. This could apply to someone if they: Have had federal income tax withheld [...]
Things aren't always as they seem. In this episode of Tax Tales: The Case of the Unclear Aunt, does Aunt Joan qualify for the EITC? The preparer must take a closer look at Aunt Joan's AGI and whether the tie-breaker rules apply to determine if she can claim the EITC.
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 [...]
Millions of workers qualify for the Earned Income Tax Credit for the first time due to changes like the birth of a child. Visit IRS.gov/eitc for more details.
If you work and have low to moderate income, be sure to look into the earned income tax credit - also known as EITC. It can put money in your pocket. The first thing to do is check out IRS.gov/eitc. There, you'll discover the credit can be worth thousands of dollars for some people. The amount [...]
