The Earned Income Tax Credit (or “EITC” for short) is an excellent option for low-income families and individual filers to utilize for a larger return and overall cash back from the government when you file your taxes. While fairly straight-forward to understand, many tax filers do no understand how the EITC works, and if they qualify. It’s estimated that nearly 1/5 qualified applicants don’t use the credit.
This article will help you understand the basics of the earned income credit, and will also help you determine if you can claim the Earned Income Credit and if you qualify.… Read the rest
Employers are obligated to send out W-2 Forms by January 31st, or the next business day if it falls on the weekend or a public holiday.
But that doesn’t mean you have to receive it by that date. This can be highly frustrating if you just want to file your taxes and get the whole process over and done with.
That’s why services like H&R Block’s W-2 Finder were created. You can get an electronic copy through H&R Block free of charge, so that you can get started on your taxes as early as possible.… Read the rest
2020 is coming to an end, and you may be wondering when can you file taxes in 2021?
While you may be looking forward to the holiday season, keep in mind, soon after it ends, tax season officially kicks off.
So, When Does Tax Season Start in 2021?
The Internal Revenue Service has set the opening day for the 2021 filing season as Monday, Jan. 27, 2021. That’s the day the IRS will start accepting and processing 2020 tax year returns.… Read the rest