“Have you filed your taxes yet?”
This seems to be a constant question among friends and family this time of year - until April 15. The question really should be more specific: “Have you filed ALL of your taxes yet?” April 15 is the deadline for about 918,000 taxpayers to claim almost $760 million dollars in 2010 refund money. The three-year window to catch up closes on any chance for taxpayers to claim their 2010 refund at the end of this tax season.
For whatever reason, if you didn’t file, get your forms together and head to a Liberty Tax office near you. Sure, it might take a day or two to gather the information, but how much do you make each day? Is it more than $571? And it’s possible your 2010 refund could be worth more than that.
It is a misconception to not file your taxes because you think you didn’t make enough money. Maybe you overpaid in taxes and should get money back. Or worse. You could be losing out on major credits that are refundable, like the Earned Income Tax Credit (EITC).The EITC helps over 30 million low- to moderate-income, working Americans. Millions of Americans, who suddenly experience lower wages, may find themselves eligible to claim the EITC for the first time.
The limits for the earned income credit and maximum available refund amounts in 2010 were:
- $43,352 ($48,362 married filing jointly) with three or more qualifying children
- $40,363 ($45,373 married filing jointly) with two qualifying children
- $35,535 ($40,545 married filing jointly) with one qualifying child
- $13,460 ($18,470 married filing jointly) with no qualifying children
Claiming the EITC has no effect on welfare benefits, the Supplemental Nutrition Assistance Program (SNAP) or low income housing eligibility.
Liberty Tax can help you even if you can’t locate your forms, such as your W-2 or 1099. Just call and set up an appointment. To find a local Liberty Tax Service office, call 1-866-871-1040 or visit our homepage to search for offices in your city.
You never know what amount of money may be awaiting you!
Disclaimer: Every effort has been taken to provide the most accurate and honest analysis of the tax information provided in this blog. Please use your discretion before making any decisions based on the information provided. This blog is not intended to be a substitute for seeking professional tax advice based on your individual needs.