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4 minutes read
While many states rely heavily on taxes levied on the oil and gas industry, the falling price of oil in recent months is contributing to the drying-up of much-needed tax revenues. How do states such as Alaska, Texas and other mineral-rich states get creative when they need to supplement their budgets? Here’s a quick look at why low oil prices are bad news for state budgets.
4 minutes read
Although the Earned Income Tax Credit (EITC) can sound daunting and confusing for taxpayers and tax professionals alike, there are ways to navigate the murky waters of this credit to maximize its benefits. This tool can be important for low- and middle-income families and singles looking to save money where they can. Breaking down this tax credit isn’t difficult once you understand what it is and how to file for it.