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Most people are required to file a tax return every year. This may be different for some lower income people, but in order to get the tax refund you might be entitled to, you must file.

Here are some tips to decide if you need to file a return:

General Reasons

Income, filing status and age will determine if someone must file a return. Are you self-employed? Can you be claimed as a dependent on someone else’s return? These would be factors that would determine your filing status.  

Did You Pay Taxes?

Did your employer withhold federal income tax from your checks? Did you make tax payments?
If your answer is “YES,” you could be due a refund and should file a return.

Can You Claim EITC?

If you earned less than $55,592 in 2019, you could be eligible to receive the Earned Income Tax Credit. If eligible, you must qualify, with or without a dependent.

Child Tax Credits and Other Dependents

Taxpayers can claim the child tax credit and other taxpayers may be eligible for the credit for other eligible dependents. This includes people who have: 1.) Children who are 17+ at the end of 2019 or 2.) Parents or other qualifying individuals they support

Did You Go to School?

You could be eligible for higher education credits that could reduce the amount of tax someone owes on their tax return.

The American Opportunity tax credit and the lifetime learning credit could be available to the taxpayer, their spouse or their dependent who has been a student enrolled at least half time for one academic semester. The taxpayer may qualify for one of these credits even if they don’t owe any taxes.

Can we help? Rabalais Business Consulting offers a wide range of tax services for individuals and businesses. Call 337.981.2577 or fill out our Contact Us form.