Posted by garnet71 on March 7, 2009, at 12:22:15
If you're in the U.S. and have not yet done your Fed taxes, make sure you take advantage of the Earned Income Credit (EIC) if you are eligible. If you're single/no dependents and low income, you can realize a negative tax rate and get a few hundred back. If you have kids, the credit can get you up to about $5000. If you've already done your taxes and did not take advantage of this credit, you can amend your 1040/refile and claim the credit; it's not that difficult.
I've been doing taxes for friends and family for years, and its amazing how many people don't know anything about this credit or other credits and deductions.
It's very disappointing how complicated tax filing is made to be. TurboTax makes it a lot easier, but still, I noticed some low-income people who can't pay accountants do not get all the credits and deductions they are eligible for.
poster:garnet71
thread:884251
URL: http://www.dr-bob.org/babble/poli/20090221/msgs/884251.html