If you didn’t earn a lot of money last year, you may very well be eligible for the Earned Income Tax Credit. Although the EITC has existed for decades, it’s been improved and expanded over the years. The maximum benefit was increased under the American Recovery and Reinvestment Act of 2009 for the 2009 and 2010 tax years, and then extended through 2012. Read More.

Not exactly. But, taxpayers can get what is called a Refund Anticipation Loan commonly referred to as a RAL. They are short-term loans that allow taxpayers to borrow money against the future tax refund they will receive from the IRS after they file their tax return. Although at first blush RALs sound attractive, they can come at a high cost. Read More.

Congratulations on the new addition to your family! Having a little one brings lots of major changes to your life, including at tax filing time. To start with, make sure you have a Social Security number for your newborn, to ensure you can receive the tax breaks to which you’re entitled. Read More.

The tax news we have received of late is not all positive; at least not for those planning on claiming an energy tax credit in 2011. If you remember correctly, in 2009 Congress passed legislation (ARRA) which allowed taxpayers to claim energy tax credits for 30% of the cost (i.e. furnaces, windows, insulation) or up to $1,500. This same energy tax credit is being reduced for 2011. Read More.