Image

2016 Tax Season Kicks-off with #EITCAwarenessDay

WORKERS MAY QUALIFY FOR FEDERAL TAX CREDIT

Moneygami Car 1024x768 pixels(Columbia, SC)— C Fitts Tax Solutions wants to make life a little easier for workers by alerting them about a special tax credit that can put money in their pockets.

“EITC is a tax benefit for working people and their families and it allows more dollars to flow into our community. It’s money workers can use for groceries, rent, utilities and other bills” said Carolyn. “We want workers who may qualify for EITC to have all the information they need to get the EITC and get it right.” Continue reading

Image

Tax Breaks for the Military

Certain rules apply to deductions or credits that military persons may be able to claim that can lower tax liability. In some cases, you may get more time to file your tax return. You may also get more time to pay your income tax. Continue reading

IRS is sending letters to taxpayers who may not be entitled to some or all of the Earned Income Tax Credit claimed on their 2014 tax return.

Art - Tax Preparer ReadinessIf you receive a letter, review your 2014 tax return for accuracy and, if needed, file an amended tax return to make the necessary corrections.

Taxpayers who filed questionable EITC claims may receive one or both of the following letters:

  • Letter 5621 asks the taxpayer to review his/her tax return to determine if the children claimed each met all the qualifying child rules for the credit.
  • Letter 5621-A asks the taxpayer to review his/her tax return to determine if all the income and expenses reported from self-employment on Schedule C or Schedule C-EZ are complete and correct.

 

Its’ time to start organizing your tax deductible expenses

The two types of deductions are adjustments to taxable income and itemized deductions. Be sure to let your tax adviser know if you feel you could be eligible for any of these deductions. It’s reassuring to know that your tax adviser is an EA: licensed by the US Department of the Treasury, with unlimited rights of representation before the IRS. Visit https://cfittstaxsolutions.com/deductions for a list of deductions.

Its’ time to start organizing your tax deductible expenses

The two types of deductions are adjustments to taxable income and itemized deductions. Be sure to let your tax advisor know if you feel you could be eligible for any of these deductions. It’s reassuring to know that your tax advisor is an EA: licensed by the US Department of the Treasury, with unlimited rights of representation before the IRS. Visit https://cfittstaxsolutions.com/deductions for a list of deductions.