Are you a divorced family, wondering how you’ll handle taxes when claiming your dependents? The IRS law makes it pretty clear cut who gets to claim them – the custodial parent. But, if you want to relinquish those rights, you can with IRS Form 8332.
Are you trying to figure out if you qualify for Earned Income Credit (EIC)? Also known as Earned Income Tax Credit (EITC).
Well, no need to worry.
Today we will go over what conditions need to be met, such as your filing status, income, number of kids and more.
In the case where the required conditions are met, you can then easily apply for the Earned Income Credit.
This blog series is here to bring you up-to-date tax tips, news, and how to find the best online income tax services.
You may be wondering, what are Tax Exemptions?
Tax exemption is a monetary amount given to help reduce your taxable income. Usually, you can deduct a specific amount for each exemption claimed for that particular tax year.