The IRS stimulates the economy every year with the Earned Income Credit, read this blog to make sure you don’t miss out on such an important credit that puts free dollars into your refund. The IRS is making a big push to make sure taxpayers know they can take the earned income tax credit.
The Earned Income Credit is a refundable federal income tax credit for low to moderate income working individuals and families. For tax year 2009, a taxpayer with one qualifying child can receive a maximum credit of $3,043. A taxpayer with two qualifying children can receive a maximum credit of $5,028. For taxpayers with three or more qualifying children, the maximum credit is $5,657.
I’ve attached a link to the IRS website which will determine your eligibility to the credit: http://apps.irs.gov/app/eitc2009/Forward_Eligibility.do.
Don’t make the mistake and not take the credit because it seems too complicated and don’t have children or your income is so low you feel filing the return is not worth it. According to the IRS as many as 5 million people are eligible for the credit but are not taking it. Even if you don’t qualify for the credit please pass the word to your friends and family, this credit can make a significant difference.
The IRS e-flie system is now open, most W-2s and 1099s will be in mail in the next couple of weeks. Is everybody ready for tax time?
This is a good blog. Keep up all the work. I too love to blog. This is great everyone sharing opinions.
thank you very much, I do appreciate the feedback.