8 - CREDITS
Next section of the Federal Q&A tab are the Credits. The program will ask questions about various credits you might be eligible for, as listed below. We usually get a few of these Credits. The Earned Income Tax Credit (EITC) is available to lower income filers. For example, married filing jointly with an AGI less than $52,427 qualifies for an EITC of up to $6143. The maximum Earned Income Credit for individual filers this year is $496. http://www.irs.gov/Individuals/EITC-...ax-Law-Updates
Illegal aliens can file returns (for the past 3 years) and get the EITC returned as a refund, once they obtain a SSN: http://savingtosuitorsclub.net/showt...et-IRS-refunds
NOTE that as you go through, TaxACT occasionally offers various features & upgrades at additional cost. I answer "No" or "Skip" to these and find the free software does a great job.
Foreign tax credit
Child and dependent care expenses
Education credits
Retirement savings contributions credit
Net premium tax credit
Child tax credit
Residential energy credits
Other credits
Federal income tax withheld
Estimated tax payments/prior year applied
Earned income credit
Additional child tax credit
American opportunity credit
Amount paid with extension
Excess social security and tier I RRTA:
Fuel tax credit
Other payments
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