by Pierre Philantrope | Feb 1, 2023 | Tax Tip
The earned income tax credit (EITC) is not for every taxpayer. As your income increases, the credit is reduced and it is phased out at an income level. Taxpayers should be more alert by looking for any schedule A and schedule C on their tax return if they are not...
by Pierre Philantrope | Jan 25, 2023 | Tax Tip
Taxpayers tax filing status is extremely important. They are 1) Single, 2) Married Filing Jointly, 3) Married Filing Separately, 4) Head of Household, and 5) Qualifying surviving spouse. Your filing status determines your filing requirements, your tax rates,...
by Pierre Philantrope | Jan 18, 2023 | Tax Tip
The IRS (IR-2023-05) announced on Thursday, January 12 that 2023 tax filing season will officially start on Monday 23, 2023. Tax returns could be very complicated for taxpayers. Regardless of the level of complication, all taxpayers could benefit by partially...
by Pierre Philantrope | Jan 11, 2023 | Tax Tip
It is important to note that some tax credits return to 2019, post Covid-19, levels. Consequently, affected taxpayers will likely receive a significantly smaller refund this tax season compared with the previous tax year. Some changes include amounts for...
by Pierre Philantrope | Jan 4, 2023 | Tax Tip
Taxpayers should only prepare their tax return when they have all their required tax documents. The IRS has not yet published the beginning and the end of the 2023 tax season. The returns cannot be sent to the IRS before the official start date of the tax season....
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