Internal Revenue Service
Geared primarily towards low-to-middle income, working individuals and families, the Earned Income Tax Credit (EITC) is a federal benefit able to provide relief to those who meet specific criteria, by reducing the amount of tax owed and by increasing the amount of tax monies refunded, as determined after filing. Both single and married people can benefit from EITC, regardless of whether or not they have children or other dependents.
It’s easy to make a mistake on your taxes, especially if you are a new business owner or running a small business. Before you file, dot your i’s and cross your t’s by making sure to use the correct tax forms.
An ESA is another savings program for educational expenses which can be set up for kids under 18 years of age. The annual contribution limit is $2,000 per child.
Experts recommend using some type of guidance to navigate forms and maximize your returns.
The IRS expects 75 percent of all 2012 returns will get a refund, so if you haven’t started preparing your taxes yet, do it.
February 16, 2013 It’s that time of year again – tax filing season! If you haven’t filed your income tax return yet, that’s actually a good thing! On this edition of Centro, we’ll tell you […]
The I-Team has learned Massachusetts is one of the areas of greatest concern. We’ve been told gangs based in the Lawrence area with links to the Dominican Republic are very active in this area.
When ESA’s were created they were named Educational IRAs and limited to a $500 contribution. With a name change they became the Coverdell Education Savings Accounts.
Must I provide a Social Security number to any business or government agency that asks?
These were the Educational IRAs that had a name that made no sense.