2011 Tax to 2017 Tax

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The EITC Not Always Claimed for Taxes

You would have been given a refund had you filed your 2011 tax return, but you never did. The IRS is holding onto $1 billion in unclaimed funds that will become the property of the federal government if tax filers don’t claim the funds before the end of the tax filing period. Over 1 million houses failed to file and are owed the money.

Tax payers have three years to file a return and claim funds that they are owed. The people that do not normally file when owed tax refunds are part-time workers or students who do not make … Read more at 2011 Tax.

H&R Block Answers Questions Regarding Tax Credits And Deductions For Education

Education expenses can be claimed as a tax credit on an itemized return, but under what circumstances? For instance, does a long-term course of study as an electrician count as a 4-year post-grad program?

H&R Block

According to income tax experts H&R Block, the American Opportunity Credit, or AOC, may be claimed by individuals who are working toward an educational credential such as a certificate or bachelor’s degree. That’s it.

H & R Block also advises its clients to look at the Lifetime Learning Credit as tuition and fees may be claimed under its rules as a deduction. One caveat is … Read more at 2011 Tax.

Tax Carnival Ecstasy – February 15, 2014

Welcome to the February 15, 2014 edition of Tax Carnival Ecstasy. In this edition we start with an article from Bill Smith on taxes and retirement. And Kurt from MyMoneyCounselor.com presents an article on the Alternative Minimum Tax for 2013? Hope you enjoy all the articles, bookmark this carnival, share, tweet, and come back soon.

retirement

Bill Smith presents You Need To Know A Lot About Retirement posted at FastSwings, saying, “2014 Taxes are here causing many people to worry a lot about retirement. If you are among these people, i.e. you feel you are far behind in … Read more at 2011 Tax.

Should I File A Tax Return This Year?

The law requires you to complete a tax return when you have income above a designated amount.  The amount varies according to your age, filing status and income type.  However, even if you are not required to file, you might benefit as you could get a refund if taxes were withheld or you qualify of certain refundable credits.

The IRS website is a helpful resource to see if you should file.  The Interactive Tax Assistant on the site can lead you through a several questions to see if you should file.  Other information is found on printed tax forms.

Six … Read more at 2011 Tax.