TAX FAQ's
What is EIC? Do I qualify for EIC?
The Earned Income Tax Credit, EITC or EIC, is a benefit for working people with low to moderate income. To qualify, you must meet certain requirements and file a tax return, even if you do not owe any tax or are not required to file. EITC reduces the amount of tax you owe and may give you a refund.
To qualify for EITC you must have earned income from working for someone or from running or owning a business or farm and meet basic rules. And, you must either meet additional rules for workers without a qualifying child or have a child that meets all the qualifying child rules for you.
https://www.irs.gov/credits-deductions/individuals/earned-income-tax-credit
How to determine filing status?
It’s important to use the right filing status when you file your tax return. The status you choose can affect the amount of tax you owe for the year. It may even determine if you must file a tax return. Keep in mind that your marital status on Dec. 31 is your status for the whole year. Sometimes more than one filing status may apply to you. If that happens, choose the one that allows you to pay the least amount of tax.
The Five Filing Statuses
https://www.irs.gov/newsroom/choosing-the-correct-filing-status
What should I do if I have not filed prior year returns?
If you have not filed returns, gather the information for the year in question and have that return filed immediately. The return will have to be mailed in to the IRS for further processing. Click link below for further detailed assistance.
https://www.irs.gov/businesses/small-businesses-self-employed/filing-past-due-tax-returns
I owe the IRS, what should I do?
If you owe the IRS, first thing is to find out how much is owed. Create an account on the IRS' website below for further assistance.
Who can I claim on my taxes?
Rules vary depending on your unique tax situation. Click the link below for more information pertaining to your individual tax situation.
https://www.1040.com/tax-guide/taxes-for-families/who-can-you-claim/