Archive for October, 2012
Earned income credits the amount of your refund that is the amount of your refund the Irs said you get for being low income. There are certain rules that you must follow to get money. They are now cranking down on the EIC fraud.
To get the credit you must follow the rules or you will not get them.
Most of the delay in your return is when you are getting the credits.
The rule said you must have a qualified child.
Below are some of the rules to be a qualified child.
1. Child must live in the taxpayer home for over half a year. The tax payer must pay over half the cost of the home.
2. If Married must combine the income for one tax return. This means that if you are married you must file one tax return and not 2 for the same house.
3. The tax payer cannot just “give the child” to some one else because they do not work. This happens a lot when if some one is on underemployment or owe money to the government they tend to give the child to someone so the credit does not get wasted.
The above rules are found in he Internal Revue Service web address which is WWW.IRS.GOV. The IRS is cranking down so make your you file the return correctly or you never see your refund.
Should you have any questions please call our office. We are Corey and Associates. Since 1984 has been in the Tax Accounting Services for our clients. Now we are a Register Tax Preparers. We are trained to get your the correct and accurate return.
To contact us the phone number is 305-823-9228
- TurboTax – When to Use Schedule EIC, Earned Income Credit (turbotax.intuit.com)
- Four Tax Credits that Can Boost your Refund (myfinancialbodyguard.typepad.com)