As state legislative sessions begin, policymakers can help keep people working, increase incomes, reduce financial hardship, and build an economy that works for everyone by following the 26 states and the District of Columbia that have created state Earned Income Tax Credits.
It is safe and easy to set up, it is backed and insured by the U.S. Government, there are no fees or charges, no minimum deposits required, and perhaps best of all, you can set it up right now -- it is that simple and fast.
Happy Father's Day to all the dads out there! Whether you are crawling on the floor with your new baby or walking into the real world with your college graduate, here are a few pointers on how to save some money come tax time.
While a majority of Americans might think that hard work determines success and that it should be relatively simple business to climb and remain out of poverty, the reality is that the U.S. has a relatively entrenched upper class, but precarious, ever-shifting lower and middle classes.
President Obama's announcement of new tax benefits for middle class and working families, highlighted in the State of the Union and detailed in his FY 2016 budget, shines a light on the tax code in a way that demands our attention and engagement.
For some that are struggling just to get by, it can be the only way the business manages to pay employees and keep the lights on. For others with a little more of a safety net, a big tax refund is a major opportunity.
The Latino community will remember that the interests of more than 4 million of its children were sacrificed so a few politicians could pander to extremists. We hope candidates remember this episode in 2016, when they experience a record turnout of Hispanic voters.
But whether you prepare your own return or work with a tax professional, there are ways to make the process less burdensome. It all hinges on a bit of upfront organization, and having a basic understanding of how your tax bill is calculated.
Latinos and other communities are finally benefitting from the protracted economic recovery. We need to secure this still-fragile recovery among communities of color by maximizing what they can earn, create, and contribute to further benefit our economy and the well-being of all Americans.
This little train wreck over the White House's proposal and then retraction of a plan to cut back on a wasteful yet beloved tax benefit is highly instructive. It's a clear example of how much hot air there is in these fiscal debates.
It's called the "retirement saver's tax credit," and it's a frequently overlooked credit that's available to low and moderate-income individuals and families who make saving for retirement a priority. Here's how it works.