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eTax.com Form 8862, How to Claim Earned Income Credit After Disallowance

https://www.etax.com/resources/calculators/earned-income-tax-credit/

Errors on your tax return happen, and generally, they delay your refund. When the mistake is made while claiming the Earned Income Tax Credit, you can expect to wait a little longer to receive that part of your tax refund, even extending into months-long delays. In some cases, errors on the EITC portion of your tax return could result in a denial of your entire credit.

Should the IRS deny your EITC claim, you’ll suffer some...

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Related topics : tax credits claim form / claim tax credits calculator / tax income return calculator / expected tax return calculator / income tax forms irs

eTax.com How to get Maximum Earned Income Tax Credit

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For low to moderate income families, the Earned Income Tax Credit is available to help reduce the amount of federal income taxes that you owe. The refundable credit is available to families who earn the majority of their income through working (opposed to investing) and can actually reduce the federal taxes to less than zero for qualified families.

For the current tax year, in order to qualify for the credit, your investment income must be less than $3,350 for the year. In...

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Related topics : low income tax credits / child tax credit income tax / federal income tax filing requirements / filing federal tax return with no income

eTax.com How to Qualify for Child Tax Credit

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Raising children can be expensive for working families. That's why the federal government enacted the Child Tax Credit in which eligible families can receive a credit of up to $1,000 per child under the age of 17.

A qualifying family will subtract the credit amount from the owed taxes for the year. If a couple has two eligible children, they can deduct $2,000 from the amount of taxes they would owe ($1,000 per child).

There is a part of the Child Tax Credit that allows a...

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Related topics : child family tax credit / tax credits working families / child allowance tax credit / family tax benefit part b per child

eTax.com Not Itemizing on your Tax Return?

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Not Itemizing on your Tax Return?

You Can Still Claim Certain Deductions.

Filing taxes is a stressful affair, causes anxiety and can be highly confusing. Should you take the standardized tax deduction of $6,200 for singles? Double that amount for couples.

Itemizing your tax deductions may give you a bigger refund, but will necessitate keeping all your medical, tax, and charitable contribution receipts. You will also need to follow all the percentage rules and exceptions....

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Related topics : tax return claim items / income tax filing on line / irs tax income brackets

eTax.com What is Adjusted Gross Income "AGI"?

https://www.etax.com/resources/calculators/tax-brackets/

Learning the math behind your tax return may seem overwhelming. However, understanding the three different levels of income can make things a little easier. The three amounts are: total income, adjusted gross income (AGI), and taxable income.

One important term to familiarize yourself with at tax time is adjusted gross income. This includes your total income, less any above-line-deductions, such as;

deductible contributions to...

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Related topics : self employed income tax calculator / tax income return calculator

eTax.com Tax Year 2017 Is SSDI Or SSI Eligible For Earned Income Tax Credit?

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Disability and Earned Income Tax Credit

Some disability retirement benefits qualify as earned income to claim the Earned Income Tax Credit or EITC. Also, you may claim a relative of any age as a qualifying child if the relative is totally and permanently disabled and fits all other EITC requirements.

What Disability Benefits Qualify as Earned Income for EITC?

IRS considers disability retirement benefits as earned income until you reach minimum retirement age. Minimum...

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Related topics : tax credits benefit income / child tax credit income / irs income tax return / tax filing income requirements / income tax e payment

eTax.com Where's My California Refund

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The quickest and easiest way to check on your California state tax refund is to visit ftb.ca.gov and click on " Where's My Refund?" link.

You will need the following to check the status of your California personal income tax refund:

Your social security number.

Your mailing address.

The refund amount shown on your tax return.

You will generally receive your state tax refund within:

7-10 days if you e-filed your return.

8-12 weeks from the date you mailed your...

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Related topics : check income tax return refund status / state tax refund / california tax refund

eTax.com Where's My New York Refund

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The quickest and easiest way to check on your New York state tax refund is to visit tax.ny.gov and click on " Check Your Refund" link.

Alternatively you may call 518-457-5149

You will need the following to check the status of your New York personal income tax refund:

Your social security number.

Your mailing address.

The refund amount shown on your tax return.

You will generally receive your New York state tax refund within:

3 weeks if you e-filed your return.

6 weeks...

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Related topics : check income tax return refund status / state tax refund

eTax.com Massachusetts Earned Income Tax Credit

etax.com/resources/states/ma-massachusetts/

At tax time, any way that one can put more money back into their own pocket is a welcome relief. The Earned Income Tax Credit (EITC), does just that for working families with low incomes. Based off the federal government's version, the state of Massachusetts offers their own version of the credit for state residents. If a taxpayer was eligible to receive the federal credit, then they will likely qualify for the state EITC as well, since the state...

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Related topics : low income tax credits / state tax refund

eTax.com Tennessee Tax Return

http://www.etax.com/resources/states/tn-tennessee/

Tennessee does not levy a tax on wages and salaries, although income from stocks, bonds and notes received are not exempt from income taxes, these items are taxed at a rate of 6%.

Persons who utilize a filing status of single are exempt from paying taxes on the first $1,250 of taxable income, additionally joint filers are exempt for an amount from paying taxes on the first $2,500 of income that can be taxed. If you are over the age of 65,...

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Related topics : file income tax return / income tax filing