Taxpayers who requested an extension of time to file their federal tax returns have until Oct.16 to double-check their returns for tax benefits that people often overlook. These taxpayers still have time to see if they can benefit from these four credits.
ADVANCE TAX RELIEF LLC – Serving All 50 States
Call (713)300-3965 - Free Consultation
BBB A+ RATED
**Over 10 Million in Tax Debt and Penalties Forgiven for our clients
EARNED INCOME TAX CREDIT:
The Earned Income Tax Credit – also known as EITC and EIC – benefits people who work and who have low-to-moderate incomes. This credit reduces the amount of tax owed and may result in a refund. To qualify for this credit, a person must meet certain requirements. They must also file a tax return.
CHILD TAX CREDIT:
This is a credit of up to $1,000 per qualifying child. Taxpayers who claim this credit – but who do not qualify for the full amount – may also be able to take the additional child tax credit.
This credit helps low-to-moderate-income workers save for retirement. It is also known as the Retirement Savings Contributions Credit.
AMERICAN OPPORTUNITY CREDIT
A credit for tuition, enrollment fees, and class material for the first four years of higher education. The amount of this credit is up to $2,500 per eligible student per year.
Taxpayers should check IRS.gov/credits-deductions to learn more about other credits they may be qualified to claim when they file. Taxpayers who must file their 2016 taxes by October 16 should consider filing electronically using IRS e-file or the Free File system.
Additional filing information for taxpayers in disaster areas and combat zones:
Although Oct. 16 is the last day for most people to file, some still have more time. This includes taxpayers in places recently hit by hurricanes that are federally-declared disaster areas. It also includes members of the military and others serving in a combat zone who have at least 180 days after they leave the combat zone to file returns and pay their taxes due.
DO YOU NEED HELP?
We are tax relief experts specializing in IRS back tax help, Audit Help, Installment Agreements, Tax Lien Help, Wage Garnishment Release, IRS Offer in Compromises, Tax Debt Forgiveness and a whole lot more. Get a free consultation from an experienced tax relief expert today (800)790-8574
Some Recent Tax Settlements:
Mr. Dillard - CA Owed $6884, IRS settled for $400
Mr. Batiste - LA Owed $18513, IRS settled for $2972
Mr. Johnson - CA Owed $21,378, IRS settled for $4500
Ms. Gonzalez - TX Owed $28,816, IRS settled for $1700
Mr. Anthony - NY Owed $14,000, IRS settled for $900
Mr. Wilkes - CA Owed 32,211, IRS settled for $1250
Owe the IRS and need help? Call us to discuss your unique situation with Top Tax Attorney or IRS Enrolled Agent (800)790-8574 or visitwww.advancetaxrelief.com
Connect with us: