Tax Return Preparation in Buffalo, NY – This article highlights the importance of  using a qualified and knowledgeable Buffalo Accountant; to file your tax return. The new Earned Income Tax Credit could potentially boost your income tax return by $2,200.00

Recently in a press release from Washington D.C. the Internal Revenue Service and their partners
nationwide marked the 5th Earned Income Tax Credit Awareness Day on Friday, Jan. 28. This initiative highlights the availability of one of the federal government’s largest benefit programs for working families and individuals.

The press release quoted IRS Commissioner Doug Shulman as saying “Millions of workers who did not earn high incomes claimed the EITC last year. The IRS encourages all eligible taxpayers to claim this valuable credit. Together with our partners, we can help taxpayers file their returns and get the EITC.”

Workers who earned $48,362 or less from wages, self-employment or farm income last year could receive larger refunds if they qualify for the EITC. Four out of five eligible taxpayers claimed the EITC last year obtaining an extra $2,200 from the credit on average. This represents a critical financial boost to over 26 million workers who earn low to moderate incomes.

Eligibility for the EITC is determined based on a number of factors including earnings, filing status
and eligible children. Many people who experienced a change in these factors will qualify for the first time this year and may not be aware of the credit.

Taxpayers must file a tax return, even if they do not have a filing requirement, and specifically
claim the credit. Those who typically fail to claim the EITC include rural workers and their families;
non-traditional families, such as grandparents or foster parents raising children; taxpayers without
qualifying children; individuals with limited English proficiency; Native Americans; and taxpayers
with disabilities.

As a Buffalo Certified Public Accountant I have seen a number of new clients come in for a first time
tax return preparation by a Buffalo Tax Accountant never having heard of the Earned Income credit. They were victims of their own reluctance to use a Buffalo Accounting Firm or Buffalo Tax Preparer to maximize the Federal and State government’s benefits available to them. All they see is the cost involved and don’t understand that a Buffalo Accountant spends his or her life studying the tax laws so that we can help individuals take full advantage of the benefits of the Federal and State tax laws.

If you are reading this article and are reluctant due to the cost of using a Buffalo Tax Return Preparation Specialist such as a Tax Accountant, I urge you to reconsider. Many times if I find a reluctant new tax return preparation client here in Buffalo I will Offer to review their self prepared return. If I can’t find any additional tax savings I don’t charge them for the service. There are many Buffalo Certified Public Accountants and Buffalo tax return preparers whom I know have done the same for new clients. Find a Buffalo Accountant or Buffalo Accounting Firm you feel comfortable with and make sure you receive the maximum tax benefits under the Law.

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