Are you a divorced family, wondering how you’ll handle taxes when claiming your dependents? The IRS law makes it pretty clear cut who gets to claim them – the custodial parent. But, if you want to relinquish those rights, you can with IRS Form 8332.
Are you trying to figure out if you qualify for Earned Income Credit (EIC)? Also known as Earned Income Tax Credit (EITC).
Well, no need to worry.
Today we will go over what conditions need to be met, such as your filing status, income, number of kids and more.
In the case where the required conditions are met, you can then easily apply for the Earned Income Credit.
If you received a 4883c letter from the IRS, it’s normal to feel panicked. What did you do wrong? What does the IRS want?
Are they going to come after your assets? Are you going to pay penalties?
These are some 4883c letter questions that go through the minds of taxpayers. Fortunately, the letter isn’t as bad as it seems and with the right steps, you can get through it with ease.
As the new tax season approaches, you may have already started receiving multiple documents to hand over to your tax preparer or accountant. Among all of those docs you may notice a tax form called a 1098-T. Don’t be afraid by this document at all.
Form 1098-T is a Tuition Statement used to help you understand which education credits you may qualify for relating to tuition and other school-related expenses paid during the tax year.
This blog series is here to bring you up-to-date tax tips, news, and how to find the best online income tax services.