Earned Income Tax Credit

Earn Income Tax Credit

As the tax season  2018 approaches, I decided to continue a few topics on tax preparation for our taxpayers.

My goal is that you will be ready to file your return once the tax season has started. I would like you to be ready with your questions for your tax preparer and that you will have all your documentation ready to prepare your return timely and accurately

Current Issues of Fraudulent reports

Today, the issue of Earned Income Tax Credit has become a big focal point on IRS radar. One of the reasons is that this is the area most people tend to prepare fraudulent returns. The purpose of the Earned Income Tax Credit has been put in place to assist low income earners with a refundable credit.

Individuals along with their preparers have fraudulently prepare returns by using at times dependents of individuals that do not belong to the tax preparer. Sometimes returns are even prepared by means of identity theft. These acts  put hard-working taxpayers at risk of losing their credit or delaying their refund.

 

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Environment/Tight Shoes
  • Sometimes if you are known for one thing or area of expertise, your environment will want to hold you hostage to it for the rest of your life.

o   When you want it step out to do something great, it will blocks you.

o   When it’s painful clear that who you are now or your current situation does not work anymore, it still wants to hold you.

o   Example: once my husband was sharing that on one of his upcoming album that I wrote two of the songs. The person response was that he didn’t know that I could do anything else than accounting.

o   Maybe he was right then, because maybe that was the value that I had place on myself.

o   You see no one will ever value more than the value you place on yourself.

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