Published On: March 6, 2023
PEOPLE MAY WANT TO FILE A TAX RETURN – EVEN IF THEY ARE NOT REQUIRED TO DO SO
Posting from the IRS
IRS Tax Tip 2023-27, March 2, 2023
Some people choose not to file a tax return because they aren’t legally required to file, but they could be missing out on refundable tax credits or an income tax refund. This could apply to someone if they:
- Have had federal income tax withheld from their pay.
- Made estimated tax payments.
- Qualify to claim refundable tax credits.
Here are a few of the valuable tax credits eligible people can claim on a tax return
- Earned Income Tax Credit – The EITC helps workers who earned $59,187 or less when they file their tax return. Taxpayers can use the EITC Assistant on IRS.gov to check their eligibility.
- Child Tax Credit – Taxpayers can claim the Child Tax Credit if they have a qualifying child under the age of 18 and meet other qualifications.
- Credit for Other Dependents – Taxpayers who do not qualify for the child tax credit may qualify for the Credit for Other Dependents. This includes people who have:
- Dependent children who are age 18 or older at the end of 2022.
- Parents or other qualifying individuals they support.
- Education credits – Education expenses can add up fast, but there are two higher education credits to help. The American Opportunity Tax Credit is for qualified education expenses for the first four years of higher education. The Lifetime Learning Credit is for qualified tuition and related expenses paid for eligible students enrolled in an eligible educational institution.
The Interactive Tax Assistant can help people when they’re deciding whether to file
The Interactive Tax Assistant is a tool that provides answers to many common tax law questions based on an individual’s specific circumstances. It can help someone decide whether they should file a tax return and if they’re eligible for many common tax credits.
The tool keeps the taxpayer anonymous. The taxpayer’s information isn’t stored and is used by the assistant only to answer the taxpayer’s questions. The assistant will not share, store or use information in any other way, nor can it identify the individual using it. The system discards the information the user provides when they exit a topic.
Taxpayers can e-file to get their refunds faster
The fastest way people can get a refund is to e-file and select direct deposit. The IRS issues more than 9 out of 10 refunds for e-filed returns in fewer than 21 days.
MUSINGS BY DIANE:
This is not a scam.
The IRS Interactive Tax Assistance can help you decide whether or not to file a return. Why not take advantage of this tool in order to see if there are available funds.
Diane L. Drain
About the Author: Diane Drain
Diane is a well respected Arizona bankruptcy and foreclosure attorney. As a retired law professor, she believes in offering everyone, not just her clients, advice about bankruptcy and Arizona foreclosure laws. Diane is also a mentor to hundreds of Arizona attorneys.
*Important Note from Diane: Everything on this web site is offered for educational purposes only and not intended to provide legal advice, nor create an attorney client relationship between you, me, or the author of any article. Information in this web site should not be used as a substitute for competent legal advice from an attorney familiar with your personal circumstances and licensed to practice law in your state. Make sure to check out their reviews.*
“You folks are the BEST OF THE BEST in Arizona.” M.H.
You and Jay are the best attorneys I have ever had or needed and thank God for the Honorable Robert Gottsfield in recommending you folks – I would have never made it through the entire process without you and Jay and God Bless you both always and stay in touch as well. You folks are the BEST OF THE BEST in Arizona.
“My only regret is that I didn’t find Diane sooner.” K.H.
I can’t say enough good things about Diane. The way she handled my not typical circumstances was amazing. I was very nervous to start the bankruptcy process but Diane just has a very comforting way of explaining the whole process. My only regret is that I didn’t find Diane sooner. If you find yourself in a financial situation that you can’t correct on your own, please Call Diane Drain as soon as possible.
“Filing for bankruptcy can be a stressful life event” R.A.
Filing for bankruptcy can be a stressful life event, and selecting the right attorney can add to this stress. Diane and Jay were a pleasure to work with, and it is obvious that they are passionate about helping people get their life back on track. I would highly recommend them if you need a bankruptcy attorney.
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