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49 Tax Tips for 2012

49 Tax Tips for 2012

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LATEST: 49 Super Tax Tips for 2012

There are total 49 super tips in this 59-page(letter size) book, which covers topics like:

Free Tax Help for Military Personnel and Their Families

Four Tax Credits that Can Boost your Refund

Six Facts for Adoptive Parents

Standard Deduction vs. Itemizing: Seven Facts to Help You Choose

Seven Tips to Help Taxpayers Avoid Phony Refund Schemes Abusing Popular College Tax Credit

What Employers Need to Know About Claiming the Small Business Health Care Tax Credit

Free Tax Help for Military Personnel and Their Families


Mortgage Debt Forgiveness: 10 Key Points


Four Ways to Find Free Tax Help

Education Tax Credits Help Pay Higher Education Costs


Six Tips on a Tax Credit for Retirement Savings


Ten Things to Know About Capital Gains and Losses


Early Distribution from Retirement Plans May Have a Tax Impact

Dirty Dozen Tax Scams


Four Things to Know About Bartering


Ten Things to Know about Free IRS Volunteer Tax Help


IRS Offers Four Tips on Unemployment Benefits


Eight Things to Know about Medical and Dental Expenses and Your Taxes


The Child Tax Credit: 11 Key Points


Eight Facts about New IRS Form 8949 and Schedule D


Tax Law Changes for 2011 Federal Tax Returns


Seven Tips to Help You Determine if Your Social Security Benefits are Taxable


Taxable or Non-Taxable Income?


Safeguard Your Refund – Choose Direct Deposit


Five Tips for Recently Married or Divorced Taxpayers with a Name Change


New Tool Available on IRS Website to Help Taxpayers Who Have to Repay Their First-Time Homebuyer Credit


Check your Eligibility for EITC




What to Do If You Are Missing a W-2


IRS Multilingual Gateway Offers Online Help in Other Languages


Get Your Prior Years Tax Information from the IRS


Online Tax Center Offers Tools and Resources for Small Businesses and Self-Employed


Tax Tips for the Self-employed


IRS Reminds Parents of Ten Tax Benefits


Four Tax Tips Regarding Tip Income


Federal Tax Information Aplenty through Social Media


Tax Help ‘en Español’


Everyone is Eligible to Free File!


Top Tips Every Taxpayer Should Know about Identity Theft

IRS Offers Several Reasons to File Your Tax Return Electronically


Eight Facts to Help Determine Your Correct Filing Status


Don’t be Scammed by Cyber Criminals


Six Important Facts about Dependents and Exemptions


Ten Tips to Help You Choose a Tax Preparer


Top 10 Helpful Features on the IRS Website


Four Ways to Get IRS Forms and Publications


Make it Easy on Yourself: Choose the Simplest Tax Form


Do I Need to File a Tax Return This Year?


IRS Offers Top 10 Tax-Time Tips


SIMPLE tips will help you SAVE big on TAX dollars...



Chapter 5 - Four Tax Credits that Can Boost your Refund



A tax credit is a dollar-for-dollar reduction of taxes owed. Some tax credits are refundable meaning if you are eligible and claim one, you can get the rest of it in the form of a tax refund even after your tax liability has been reduced to zero.

Here are four refundable tax credits you should consider to increase your refund on your 2011 federal income tax return:
1. The Earned Income Tax Credit is for people earning less than $49,078 from wages, self-employment or farming. Millions of workers who saw their earnings drop in 2011 may qualify for the first time. Income, age and the number of qualifying children determine the amount of the credit, which can be up to $5,751. Workers without children also may qualify. For more information, see IRS Publication 596, Earned Income Credit.
2. The Child and Dependent Care Credit is for expenses paid for the care of your qualifying children under age 13, or for a disabled spouse or dependent, while you work or look for work. For more information, see IRS Publication 503, Child and Dependent Care Expenses.
3. The Child Tax Credit is for people who have a qualifying child. The maximum credit is $1,000 for each qualifying child. You can claim this credit in addition to the Child and Dependent Care Credit. For more information on the Child Tax Credit, see IRS Publication 972, Child Tax Credit.
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