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Tax Tips & News: earned income tax credit (2)

Are you Eligible for the Earned Income Tax Credit?

1 minute read

With the unemployment rate soaring, more taxpayers than ever will qualify for the Earned Income Tax Credit.  The Earned Income Tax Credit also known as EITC, is a refundable tax credit that was created to assist low to moderate income individuals and families.  This year the EITC can mean up to $5,666 for some families, and that is only the federal credit.  For those who live in New York there is an additional credit on the NYS income tax return as well.  Take a look at the Federal income...

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Half of Americans Will NOT Pay Taxes in 2010

3 minutes read

All is not well at the IRS.  According to the Tax Policy Center–and what is surely to exacerbate the Federal budget crisis-47% of American households will pay ZERO federal income taxes this year.

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IRS Has 1.3 Billion In Unclaimed Refunds!

2 minutes read

The IRS has reported that more than 1.4 million tax payers are due over $1.3 BILLION in unclaimed refunds because they have not filed a 2006 tax return.  These refunds are still available, but only if a 2006 tax return is filed before April 15th, 2010.  After that, the government gets to keep your refunds.

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