Each year billions of dollars are distributed to millions of low-income working families in America, to help them make ends meet. This is called a refundable credit, which means you don’t have to first pay in taxes to qualify. To qualify for the Earned Income Credit you must: Have a valid Social Security Number. You […]
Tag Archives: Earned Income Credit
02
Oct
Oct
Most people come into our lives, and then their best hope is tax time. Sometimes our lives are messier than we (or the IRS) would like. Enter the option for “Separate Marriage Stories”. As a married person, I was curious about this in the past, and I wondered if it would give me better results […]
22
Aug
Aug
You generally have to file an Illinois state income tax return if you were a resident of Illinois, either for the entire year or part of the year and your income is more than the exemption amount in Illinois. You also have to file a tax return in Illinois if you were not a resident […]
There are certain conditions that must be met in order to be able to use one of the simpler forms – either the 1040EZ or the 1040A. These conditions generally refer to filing status, level and source of income, and which tax benefits are being utilized. Form 1040 is the general form that applies to […]
When you lose your job and find yourself unemployed, income tax may not be the most important thing on your mind. But in this difficult time, it is important to know the different types of income tax of your current assets, and the income tax consequences of the different activities that you can take, in […]
18
Apr
Apr
Getting a hearing from the IRS is stressful, to say the least. Follow the rules for filing taxes, and you’ll see the second and third. Emphasize that you don’t do that. Accept the letter that you have received, just to receive your partial refund. Your challenges from this point on can drive you a bit […]