Be Eligible for Earned Income Tax Credit: A Guide to Qualification and Benefits The Earned Income Tax Credit (EIC) is a valuable tax benefit available to eligible American families. The credit can significantly reduce tax liabilities and even result in a refund,...
Exactly what triggers an audit from the IRS isn’t always clear. There are plenty of urban legends about exactly which tax deductions can bring you to the attention of the IRS, but not a lot of facts. In particular, the home office deduction has a reputation for...
Many workers count on their employer-sponsored 401(k) for the lion’s share of their retirement funds. That’s why these accounts shouldn’t be the first place you go if you need to make a major expenditure or are having trouble keeping up with your bills. But if...
When it’s time to complete their tax returns, couples have one big question to answer: married filing jointly or married filing separately? Just under 5% of the approximately 56 million married couples filed their taxes jointly in 2013, according to IRS statistics....
Tax season is the worst time of the year for many people. It’s a time when most individuals and business are required by the IRS to get their books to see if they have paid Uncle Sam enough money during the previous year or if they are going to be writing him a check...
