What Is Earned Income Tax Credit (EITC)?Geared primarily towards low-to-middle income, working individuals and families, the Earned Income Tax Credit (EITC) is a federal benefit able to provide relief to those who meet specific criteria, by reducing the amount of tax owed and by increasing the amount of tax monies refunded, as determined after filing. Both single and married people can benefit from EITC, regardless of whether or not they have children or other dependents.
Best Tax Credits And Deductions Everyone Should Know AboutDon't miss out on some valuable tax credits and deductions. Here are a few of the most commonly missed credits, which could end up saving you a bundle.
Improper Payments by Federal Agencies Reach Record $125BThe payments included tax credits for families that didn't qualify, Medicare payments for treatments that might not have been necessary, and unemployment benefits for people who were actually working.
Opinion: Romney Denigrates 47% Not Paying Taxes As He Uses Loopholes Trying To Do The SameMitt Romney, if you want to talk about mooches and freeloaders that take advantage of the system then grow a spine and show America your tax returns. Let's see what you really pay as a percentage. Let's see what deductions you take. Let's see how addicted to federal benefits you are.
Opinion: Romney's 47% Don't Pay Taxes Remark Shows He's Exactly Who We Thought He WasThe recently released tape of Romney speaking to donors at a closed door fundraiser has exposed Mitt Romney to, in fact, be the person Democrats have portrayed him to be: a rich, out of touch, arrogant man that has no respect or connection to the American middle class and absolutely no interest in making the American middle class stronger.