More steps to make the year 2020 ‘less taxing’ in ‘21
Allen Beatty - Contributing columnist
Editor’s Note: This is part 2 of a 3-part series by Wilmington College Assistant Professor Allen Beatty.
Earned Income Credit and Additional Child Tax Credit
As newsworthy as the stimulus payments were, there are some other often overlooked provisions that didn’t make the news that are equally important. For example, the Earned Income Credit and Additional Child Tax Credit is in the law to help those in need the most.
The Earned Income Credit operates on a bell curve. One must make enough earned income, generally requiring full-time work, to maximize the credit.
Tips for a ‘less taxing’ season; WC accounting prof, CPA tackles ‘a tax season like no other’
Allen Beatty - Contributing columnist
Editor’s Note: This is part 1 of a 3-part series by Wilmington College Assistant Professor Allen Beatty.
As an IRS Enrolled Agent, CPA, Assistant Professor of Accounting at Wilmington College, and owner/operator of Apple Tax Services, I find myself entering a tax season like no other in over 25 years of preparing taxes.
One of the surprising and perhaps frustrating aspects for many taxpayers who look for that refund is that the IRS will not start accepting tax returns until Feb. 12. For comparison, the season usually opens the day after the Martin Luther King Jr. holiday.