Get more money on your tax return
Mon, 02 Apr 2012 02:11:24 GMT —
The deadline to file your taxes is April 17. That's an extra two days due to the 15th falling on a Saturday and the Emancipation holiday falling on Sunday.
More people than ever before are filing their taxes electronically. This year, it's more than 80 percent.
KHQA spoke with Michael Devine with the IRS who says this year's return will look very similar to last years as nothing much has changed, unless something in your life has. But, if you're not preparing your taxes electronically or using a tax professional, you should pay close attention to the credits and deductions you might be missing if you're doing it on paper.
"The Earned Income Tax Credit is available for families and individuals. Depending on the number of children you have, the amount of money you make depends on how big the credit is. But this could be a credit of more than $5,700. And it's a refundable credit, so if it reduces your tax bill to zero, anything left over comes back to you in the form of a refund. If you've got children, there's also the childcare credit. There's education credits. There's a lot of credits available for people going to school, with children and we want you to take advantage of those," Devine said.
Depending on what you make, you may be eligible to file your taxes online for free. Just visit, www.irs.gov and you'll find a list of brand name software companies that will guide you. There, you can also file your state return at the same time, but more than likely at a small cost.