Considering filing married filing separate instead of a joint tax return? While married taxpayers generally have the option to file a joint tax return or separate returns, there is also a filing status commonly referred to as married filing separate (MFS). If you are married and you and your spouse are filing separate returns, read …
Earned Income Tax Credit (EITC)
Special Rules Apply to 2020 EITC and Child Credit
2020 EITC and Child Credit must now follow special rules. Because of the pandemic, many individuals have seen their employment (earned) income plummet. In that situation, two very important tax credits, the Earned Income Tax Credit (EITC) and the Child Tax Credit (CTC) will be adversely affected. Since the credits, are based in part on …
