Posts tagged as:

EITC

IRS Proposes New Regulations for Submitting EITC Claims

7 October 2011

The IRS announced this week that it is changing the filing requirements for tax pros who submit a federal tax return claiming the Earned Income Tax Credit (EITC). Under new proposed regulations, paid tax preparers submitting EITC claims must also file a federal form 8867, Paid Preparer’s Earned Income Credit Checklist (downloads as a pdf). [...]

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Back to School: Tax & Organizational Tips

27 September 2011

It’s nearly the end of September (whew) and we’re wrapping up back to school. To help you stay organized, I’ve made a list of five quick tax tips – for everyone but especially students – to keep in mind: April 15 of each year is the due date for filing your federal individual income tax [...]

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The Morning After: The Tax Deal Hangover

8 December 2010

I’ll admit that I didn’t see yesterday’s tax deal coming. I was fairly certain that the drama would play out through this week. We still have drama but now it’s more of the “let me explain” variety. Let me see if I can sort out for you what happened and why. First, let’s talk timing. [...]

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Ask the taxgirl: EITC Eligibility

5 February 2010

Taxpayer asks: I was told that if I make more than 46,000.00, my family didn’t qualify for the EIC. My wife saw on the news this morning that if you make less then 71,000.00 that we should qualify. I’m married with two children, one born in 2009. Which is correct? Thanks Taxgirl says: Hmm. As [...]

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2011 Budget & Tax Proposals

4 February 2010

I got a glimpse of the 2011 budget proposal on the news last night. It’s big. As in big thick book big. And I will admit to not having read all 192 pages yet. But I’m making progress. You can download the whole thing at once – or in little bits (as I have done) [...]

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Tax Trivia: EITC Reporting

27 January 2010

Update: We have a winner! It’s Adrienne! Jaime was also a winner for getting the bonus question right. For the answer, see the comments! Our next tax trivia question for the giveaway is: Since its inception in 1975, the EITC has been controversial – no wonder, since it’s considered one of the largest social welfare [...]

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Tax or No Tax?

30 September 2009

The good news: nearly 50% of American households (47%, to be precise) won’t pay any federal income tax in 2009. The bad news: the remaining 50% (or so) will have to foot the bill for everyone. You can thank (or blame) the new economic recovery package for bumping the percentage of taxpayers who won’t be [...]

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Hey Congress, Why Don’t You…? Take a Second Look

4 September 2009

Robert D Flach, the internet’s “Wandering Tax Pro“, writes: If I ruled the world, or at least had a voice in rewriting the Tax Code, not only would every man be as free as a bird and every voice be a voice to be heard, but I would also make the following changes to our [...]

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Hey Congress, Why Don’t You…? Eliminate Benefits for Having Kids

2 September 2009

David Smith writes: If I could make one change in the tax code, I would eliminate any benefits for having children. I chose to be single. I chose not to have children. I am appalled to see how much our tax system subsidizes having children. It is welfare, just put forth another way. I already [...]

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Up, Up and Away… In My Beautiful Tax Balloon

20 October 2008

As the economy continues on its wild ride, the IRS has announced a series of adjustments for tax brackets and other provisions for the 2009 tax year. These adjustments, in response to inflation, are required by law. Note that these adjustments will affect your 2009 tax return, normally filed in early 2010. Your 2008 tax [...]

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