Although an incredible number of families currently claim this unique tax break for wage earners with low earnings, the IRS says substantially more qualify for this refundable tax credit yet neglect to take advantage of it.
The guidelines for (EIC) Earned Income Credit Table were recently liberalized; therefore many more families meet the requirements and … Read the rest
One of the most beneficial and popular federal tax credits is the Child Tax Credit. This is a nonrefundable tax credit but it is worth up to $1,000 per qualifying child.
Who is Considered a Qualifying Child?
The IRS considers a qualifying child to be a child that meets all of the criteria’s below:
… Read the rest
The EIC/EITC is known as the Earned Income Tax Credit. This tax credit is available for those who have a low or moderate income that they have earned.
The amount that you receive for this credit is determined based on the filing status you use and your salary for the year. Those who qualify pay … Read the rest