|
 |
|
 
www Paylesstaxcom
Toll Free (877)CPA-Help or (877)272-4357
Don Fitch CPA's
professional services include Guaranteed results with the IRS, tax returns for
ALL 50 STATES, Financial and IRS Audits, Financial Reviews, Compilations, IRS Discovery's, Natural Disaster Relief, Lender Letters,
and CPA Employment Verification
|
Earned Income Credit
Page
Chat
Live with a CPA |
 |
 Free
Website Contact Form sent directly to Don Fitch, CPA
 Free Phone Tax Consultation
 Free
Tax Forms from 1980 to Present
 Free
Online Tax Chat with Don Fitch, CPA
 Free
Video Conference with Don Fitch, CPA
 Actual
IRS Wage Levy Releases
Actual
IRS Offers in Compromise
Actual
Testimonials
Actual
Lien Releases
 Don
Fitch CPA's Guaranteed IRS Wage Levy Release Program
Haven't Filed in Years!
What should I Do?
What
to Look for in a CPA
Taxes
and Bankruptcy
We prepare Federal and State Tax Returns
for ALL 50 States!
(Individual)
(Amended)
(Partnership)
(Trust)
(Corporation)
(Sub
S-Corporation)
(Estate)
(Gift Tax)
(Federal
Unemployment Taxes)
(Payroll
Taxes)
 (Non Profit)
(Information)
Don Fitch CPA's
Resume
Webmaster's
Resume
 Don
Fitch CPA's Employment
Opportunities
 Directions to
Don Fitch CPA
| |
Earned Income Credit
TAX CREDITS
A tax credit is an item that
directly reduces the taxpayer's tax
liability, as compared to an exclusion or deduction that reduces the
amount of income. For individual taxpayers, there are two types of tax
credits: refundable and non-refundable tax credits. A refundable tax
credit generates a refund if it exceeds the taxpayer's tax liability for
the year. A non-refundable tax credit is limited to the taxpayer's tax
liability. Therefore, the taxpayer is not entitled to a refund of any
excess should there be excess. In certain situations, however, a taxpayer
may be entitled to carryover an excess non-refundable credit to another
year. For example, the credit for interest on certain home mortgages under
Code Section 25 may be carried forward in some situations.
Non-refundable credits include, but are not limited to, the Code Section
21) child care credit; the Code Section 22 credit for the elderly and the
permanently and totally disabled; the adoption assistance credit of Code
Section 23 ; the child tax credit of Code Section 24 ; the Code Section 25
credit for interest on certain home mortgages; and the Code Section 25B
temporary credit for elective deferrals and IRA contributions.
CAUTION: Although considered a non-refundable credit, the child tax
credit is partially refundable for some taxpayers. See Section
57.4
Refundable credits include taxes withheld on wages and estimated tax
payments, Code Section 31 ; the earned income credit, Code Section 32 ; and
the credit for uses of gasoline and special fuels, Code Section 34.
    
  
TO
CONTACT
wwwPaylesstaxcom
 Call Toll Free
for our assistance/help at: (877)CPA-Help
or (877)272-4357.
 Email
your request for our assistance/help
to:
DonFitchCPA@paylesstax.com.
 Website
Contact Form
http://www.paylesstax.com/dfacontact.html
Video Conference with a CPA!
 Fax
your request for our assistance/help
to:
(760)836-0968 or (760)406-5001.
|
Chat
Live with a CPA |
|
|
|
|
Professional
Services              
  
 www.Paylesstax.com's Favorite
Accounting
Links
 www.Paylesstax.com's Favorite Tax
Links
 www.Paylesstax.com's Favorite
IRS
Links
 www.Paylesstax.com's Favorite State Tax
Links
 www.Paylesstax.com's Favorite Tax Publisher
& Research
Links
 www.Paylesstax.com's Favorite Computer
Links
 www.Paylesstax.com's Favorite
Continuing Professional Education
Links
www.Paylesstax.com's Favorite Library
Links
 www.Paylesstax.com's Favorite Internet
Links
www.Paylesstax.com's Favorite
Internet Purchasing
Links
 www.Paylesstax.com's Favorite
Stock
Market Links
 www.Paylesstax.com's Favorite
Travel
Links
Professional Fees
|