https://blog.freelancersunion.org/content/images/2023/03/Kathryn-Sheldon---Temple_Coral-Green-Light_13-x-19.jpeg
IRS Tax Tip 2023-18, February 13, 2023 The EITC helps workers who earned $59,187 or less when they file their tax return. Unfortunately, many people risk missing out on the credit because they don't know they're eligible — especially people who had a major life change and may qualify for the first time this year. Other workers at risk for overlooking the EITC include those:
Taxpayers can check their eligibility and how much they qualify for at IRS.gov/eitc. The EITC is a tax credit for certain people who work and have low to moderate income. A tax credit usually reduces tax owed and may also result in a refund. How to claim the EITCTo get the EITC, qualified workers must file a tax return and claim the credit. Eligible taxpayers should file a tax return to claim the credit even if their earnings were below the income requirement to file. Free tax preparation help is available online and through volunteer organizations: Most EITC refunds deposited by late FebruaryAlthough the IRS began accepting 2022 returns on Jan. 23, 2023, the IRS can't issue a refund that includes the EITC before mid-February. This is due to the 2015 PATH Act, which provides this additional time to safeguard against fraudulent refunds. The Where's My Refund? tool should show refund status by Feb. 18 for most early EITC filers. Most EITC -related refunds should be available in bank accounts or on debit cards by Feb. 28 if the taxpayer chose direct deposit and there are no other issues with their tax return. via Freelancers Union Blog https://blog.freelancersunion.org/2023/03/20/the-eitc-is-a-major-tax-benefit-for-millions-of-low-and-moderate-income-workers/
0 Comments
Leave a Reply. |
AuthorI have 5+ years experience working as a medical transcriptionist. When I am not working, I enjoy sports like playing basketball or judo. I love making friends and connections. Archives
April 2023
Categories |