What are the advantages of electronic filing of tax returns?
• Faster refund (see question above) • Proof of return acceptance • Less expensive, less hassle (no postage or wait at the post office) • More secure through direct deposit or withdrawal of funds • Paperless Q: I am very low income. Can I qualify for an Earned Income Credit? A: The Earned Income Credit (EIC) is designed to provide tax relief to low-income taxpayers. However, there are certain rules to qualify for the credit. The term “earned income” is a hint at one of the requirements to qualify. The taxpayer must have earned (through work or self-employment) a minimum amount depending on whether there are also qualifying children. In addition, age is a factor. The taxpayer must be between the ages of 25 and 65. There are other restrictions that will need to be ruled out, as well, to make sure that the EIC is available. For example, if the taxpayer is married but filing separately, he/she is not eligible for the credit. Q: If I receive a notice from the IRS that I owe additional taxes
