Reminder Taxpayers: Take Earned Income Tax Credit
If it weren’t tough enough for people to keep roofs over their heads during the recession, now 2008 income taxes are fast coming due. That’s why it’s more important than ever for taxpayers to remember the Earned Income Tax Credit (EITC), advises ExpressTaxRefund.com (http://www.expresstaxrefund.com).
The EITC is a credit for those taxpayers falling into the lower income tax brackets, explained Michele Tyson, ExpressTaxRefund.com spokesperson. It can reduce their taxes and result in a refund, allowing workers to keep more of what they earn.
According to the Internal Revenue Service, the EITC is one of the most far-reaching antipoverty initiatives. In fact, a whopping 24 million taxpayers claimed over $47 billion in the 2007 income tax year–but if past tax years are any indication, only 75% to 80% of people who qualify for the EITC will actually claim the credit on their 2008 income tax returns. ExpressTaxRefund.com wants that number to be closer to 100%.
However, like most things IRS-related, deciphering whether one is eligible for the EITC is a complex process involving numerous determinations and calculations. It’s a process some taxpayers find intimidating or downright impossible to tackle, causing them to forfeit the EITC altogether without knowing whether they qualify. Fortunately, ExpressTaxRefund.com’s live customer service representatives are available for free to everyone filing their 2008 income taxes at ExpressTaxRefund.com–and they can guide customers through the process of determining eligibility and claiming the EITC.
The EITC does good things for those taxpayers who qualify for it and who claim it, Tyson stated. We know that millions of children and their parents are able to take steps toward escaping poverty every year because of the credit. That’s why ExpressTaxRefund.com wants to see every qualifying taxpayer claiming the EITC on their 2008 income tax returns this year.
Filing income tax returns at ExpressTaxRefund.com starts at just $29.95; the company’s proprietary tax return system asks the user questions, fills in the necessary forms, and double-checks calculations, taking the stress out of income taxes. ExpressTaxRefund.com is an authorized E-file provider. To learn more, visit http://www.expresstaxrefund.com.