Understanding the Earned Income Tax Credit

Understanding the Earned Income Tax Credit

When it comes to anything related to taxes, the majority of taxpayers tend to believe it will have a negative impact on them. However, the Earned Income Tax Credit is an exception to this rule. Designed to help lower-income individuals and families, its goal is to create larger tax refunds for those who need money… Read more »

Refund Anticipation Loans

Refund Anticipation Loans

A Refund Anticipation Loan (RAL) is a short-term consumer loan against an anticipated federal or state income tax refund. The term of the loan is the length of time it takes the Internal Revenue Service (IRS) to deposit the refund into a bank account after the borrower has electronically filed the tax return. Interest rates… Read more »

Volunteer Income Tax Assistance Program

Volunteer Income Tax Assistance Program

The volunteer income tax program is a special program that is designed to provide people with assistance completing their tax returns. Certain taxpayers can receive free help by visiting one of the many VITA locations in their neighborhood. Such locations can easily be found inside of schools, libraries, shopping malls, and a wealth of additional… Read more »

Latest

2015 Tax Season Tips: A growing number of tax preparers are offering what are commonly referred to as "express" or "instant" tax refunds. These services promise to get taxpayers their refunds faster than would otherwise be possible, but in fact, are a form of short-term loan borrowed against the anticipated amount of a tax refund. Similar to the better-known payday loan, these refund anticipation loans typically carry high interest rates and must be repaid, even if the tax refund is less than expected. Learn more

  • Understanding the Earned Income Tax Credit

    Understanding the Earned Income Tax Credit

    When it comes to anything related to taxes, the majority of taxpayers tend to believe it will have a negative impact on them. However, the Earned Income Tax Credit is an exception to this rule. Designed to help lower-income individuals and families, its goal is to create larger tax refunds for those who need money… Read more »

  • Refund Anticipation Loans

    Refund Anticipation Loans

    A Refund Anticipation Loan (RAL) is a short-term consumer loan against an anticipated federal or state income tax refund. The term of the loan is the length of time it takes the Internal Revenue Service (IRS) to deposit the refund into a bank account after the borrower has electronically filed the tax return. Interest rates… Read more »

  • Volunteer Income Tax Assistance Program

    Volunteer Income Tax Assistance Program

    The volunteer income tax program is a special program that is designed to provide people with assistance completing their tax returns. Certain taxpayers can receive free help by visiting one of the many VITA locations in their neighborhood. Such locations can easily be found inside of schools, libraries, shopping malls, and a wealth of additional… Read more »