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Acting IRS commissioner Steven Miller recently sat before a congressional panel and hinted that the best way to combat the explosion of tax fraud may be to either delay the tax filing season, or wait to release all refunds until after the filing season concludes on April 15th.
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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...