Topic: EITC

IRS Has Over $14 Million for Tennesseans Who Have Not Filed a 2009 Income Tax Return

March 15, 2013 |

Nashville, TN – Refunds totaling over $14 million may be waiting for an estimated 16,400 Tennessee taxpayers who did not file a federal income tax return for 2009, the Internal Revenue Service announced today. However, to collect the money, a return for 2009 must be filed with the IRS no later than Monday, April 15th, 2013.

The IRS estimates that half the potential refunds for 2009 are more than $550.00.

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IRS says Tax Benefits available for those with Disabilities

March 1, 2013 |

Washington, D.C. – Taxpayers with disabilities and parents of children with disabilities may qualify for a number of IRS tax credits and benefits.

Listed below are seven tax credits and other benefits which may be available if you or someone else listed on your federal tax return has a disability. «Read the rest of this article»

IRS says the Earned Income Tax Credit is a Valuable Tax Credit

February 12, 2013 |

Washington, D.C. – The Earned Income Tax Credit (EITC) is a financial boost for workers earning $50,270 or less in 2012. But this valuable credit is overlooked by some filers who could be claiming it.

Here are the top 10 things the IRS wants you to know about EITC, which has been making the lives of working people a little easier for 38 years. «Read the rest of this article»

IRS says check your Eligibility for the Earned Income Tax Credit

February 4, 2013 |

Washington, D.C. – The Earned Income Tax Credit has made the lives of working people a little easier since 1975. EITC can be a boost for workers who earned $50,270 or less in 2012.

Yet the IRS estimates that one out of five eligible taxpayers fails to claim their EITC each year. The IRS wants everyone who is eligible for the credit to get the credit that they’ve earned.

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Check your Eligibility for Earned Income Tax Credit

February 11, 2012 |

Washington, D.C. – The Earned Income Tax Credit is a financial boost for workers earning $49,078 or less in 2011. Four of five eligible taxpayers filed for and received their EITC last year. The IRS wants you to get what you earned also, if you are eligible.

Here are the top 10 things the IRS wants you to know about this valuable credit, which has been making the lives of working people a little easier since 1975.

«Read the rest of this article»

Internal Revenue Service Offers Lower-Income Workers Two Tax Benefits

January 28, 2012 |

Nashville, TN – The Internal Revenue Service today alerted Tennesseans about two significant tax benefits that are sometimes missed.

“The IRS offers options that can boost your tax refund and let you avoid paying a tax preparation fee,” said IRS spokesman Dan Boone.

First, those who worked some part of 2011 but made less than $49,078 may qualify for the Earned Income Tax Credit (EITC), which can increase tax refunds by as much as $5,751. Workers with qualifying children get the highest amount of EITC. «Read the rest of this article»

EITC – Don’t Overlook It

February 28, 2011 |

Washington, D.C. – The Earned Income Tax Credit is a financial boost for workers earning $48,362 or less a year. Four of five eligible taxpayers filed for and received their EITC last year. The IRS wants you to get what you earned also, if you are eligible.

Here are the top 10 things the IRS wants you to know about this valuable credit, which has been making the lives of working people a little easier for 36 years.

«Read the rest of this article»

Workers Urged to Check Eligibly for EITC

February 5, 2011 |

Washington, D.C. - The Internal Revenue Service and partners nationwide mark the 5th Earned Income Tax Credit Awareness initiative. This initiative highlights the availability of one of the federal government’s largest benefit programs for working families and individuals.

The American Recovery and Reinvestment Act of 2009 created a new category of families with three or more children and increased the maximum benefit of EITC for tax years 2009 and 2010. The Tax Relief and Job Creation Act of 2010 extended these changes through 2012. «Read the rest of this article»

More taxpayers may qualify for Earned Income Tax Credit this year

January 24, 2010 |

With tax season fast approaching the IRS would like to ensure you have the best information available to make informed decisions on tax matters as you prepare your 2010 income tax returns.

The EITC is for people who work at least part of the year but have lower incomes. If you qualify, it could be worth up to $5,657 this year. So you could pay less federal tax or even get a refund. That’s money you can use to make a difference in your life.

The IRS anticipates that many who had reduced incomes in 2009 may qualify for the EITC but may not be aware it exists.

Did you know that last year nearly 24 million taxpayers received $49 billion in EITC – making the credit a great investment in the lives of those who claim it? However, the IRS estimates 20 percent to 25 percent of people who qualify for the credit do not claim it. At the same time, there are millions of Americans who have claimed the credit in error, many of whom simply don’t understand the criteria.

It’s easy to determine whether you qualify for the EITC. The EITC Assistant, an interactive tool available on IRS.gov, removes the guesswork from eligibility rules. Just answer a few simple questions about yourself, your children, your living situation and your income to find out if you qualify and to estimate the amount of your EITC. You will see the results of your responses right away. «Read the rest of this article»

Are you behind on filing your tax returns?

January 21, 2010 |

With tax season fast approaching the IRS would like to ensure you have the best information available to make informed decisions on tax matters as you prepare your 2010 income tax returns.

The failure to file a federal tax return can be costly — whether you end up owing more or missing out on a refund.

There are several reasons taxpayers don’t file their taxes. Perhaps you didn’t know you were required to file. Maybe, you just kept putting it off and simply forgot. Whatever the reason, it’s best to file your return as soon as possible. If you need help, even with a late return, the IRS is ready to assist you.

Here are some things to consider: «Read the rest of this article»

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