Common errors have helped to make the Earned Income Tax Credit (EIC) a major source of what the IRS calls "improper payments". The agency estimates that of the $66 billion in EIC funds paid in 2015, nearly a quarter were collected by filers who didn't qualify to receive them.
Under the current Affordable Care Act (ACA), all Americans must have health insurance. If you receive your health insurance through the ACA marketplace or from your employer, you will receive a Form 1095.
During his first week in office, President Trump signed an executive order asking federal agencies to reduce the economic burden the Patient Protection and Affordable Care Act (ACA) puts on American citizens.
If you're not a naturally organized person, keeping your tax records in one place might not be easy. But gathering the appropriate records ahead of time will make it easier on yourself and help ensure the accuracy of your tax return.
Even though the IRS has started accepting tax returns, most of us aren't yet ready to file. There are, however, reasons to consider filing your return early. Here are some of the most common: