The Earned Income Credit - Cpa Los Angeles Advice For Claiming It

By Author: Vikram Kumar
Total Articles: 9822
Comment this article

The Earned Income Tax Credit is a tax credit that will refund you money based upon how much you have made and how many qualifying children you claim on your return. The EITC is one credit that will really boost your tax refund, according to Los Angeles accountants. There are many people who do not know that they can take this credit, which is for those who file taxes and have a social security number. As long as you are a US Citizen or year round resident, you can take this credit. Even if you are a non-resident alien in the United States and are married to a US citizen, Uncle Sam has a treat for you by way of a credit.

In order to qualify for the earned income credit you have to make below a certain amount of money. The amount of money that you have to make to get the money from the government is determined by the amount of children that you have qualifying for the credit. Even if you do not have any children, you can still qualify for the credit, according to accountant, Los Angeles firms.

Individuals who make less than $13K a year can qualify for the credit and get over $400 back, even if they do not ...
... have a qualifying child. Those with one qualifying child in this income bracket can get about $3K back from the government, even if they have not paid this much in taxes.

The purpose of the earned income tax credit is to give those people who do not earn very much money a chance to get a return from the IRS that will put money in their pockets, even if they have not paid this amount in taxes. The more children that people have, the more that they can get back when it comes to their returns. This can give low income families a chance to get a step ahead when they receive their return.

There are certain forms that have to be completed when it comes to the Earned Income Tax Credit. You can get these forms online or you can take your return to Los Angeles Accountants. If you do not speak English, chances are that you can find a CPA Los Angeles that will speak the language that you speak, help you complete your tax forms and see to it that you get your fair share of this government credit.

The IRS is giving a tax break to all low income people, especially those who have children under the age of 18, or those who are in school and are under the age of 23. You can go to the IRS website to find out if your children qualify for the tax credit. In addition, when you use an accountant Los Angeles to help with your tax return, you will find out whether or not you qualify for this credit as well as any others. It is generally worth the money of even low income people to have a CPA do their taxes rather than try to do this themselves as there are many credits, such as the EITC, that they may not know about and can really boost the amount they get back in their tax return.

Resource:

Los Angeles Accountants can tell those who are filing taxes all about the earned income tax credit and an Accountant Los Angeles can see to it that the forms are completed properly to get this credit. To find a CPA Los Angeles, go to CPALA.com.