Tax Preparation Examiner Checks the Benefits and Impacts of EITC
Frank Ellis looks at the benefits and impacts of the Earned Income Tax Credit in a new articles now available on Examiner.com
Aug 12, 2015 – Author and tax preparation specialist Frank Ellis has published a new article covering the Earned Income Tax Credit, which began in 1975. Briefly revealing details on eligibility, Ellis then discusses the inclusion and optimism the EITC provides low-income citizens. A few points reveal how the credit has helped families move forward financially.
The positive social aspects are discussed next. In a survey of people who received refunds over $1,000, many chose to pay down debt or buy a new car or appliance, for example. The author highlights points such as working parents feeling more a part of society or being closer to the American dream. He also states that there’s no stigma as with other means of support such as welfare or Temporary Aid to Needy Families. Recipients actually earn the money they receive.
From online calculators to filing and claiming, a few resources are cited. The article goes on to clarify that the credit can differ depending on the taxpayer’s state. Some states have cut back while others are expanding the program. Non-profit organizations that help people get the most out of the tax credit are emerging and providing much-needed help. One example highlighted is The Boston Tax Help Coalition.
The author finishes off by saying TurboTax offers valuable help with the Earned Income Tax Credit. People often find themselves with an extra $2,000 or more. Tools in the software ask questions and calculate the credit amount. It is also filed automatically by the system.
To learn more about the EITC, how it works, and how to take part in it, go to http://www.examiner.com/article/the-earned-income-credit-is-helping-thousands-of-americans.
About Frank Ellis
Frank Ellis is a Traverse City Tax Preparation Planner and published author. He has written tax and finance related articles for eight years and has published over 900 articles on leading financial websites.
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