Did you know that every year the IRS reports nearly a million people don’t file their taxes because they think they don’t make enough money?
Check out this video from TurboTax for tips on getting a refund from previous un-filed taxes, and qualifying for the Earned Income Tax Credit:
The Average Tax Refund for Non-Filers Is $600!
You might be included in this group, and if so you’re missing out on an average tax refund of about $600! So, it really pays to consider filing, especially if you have a simple tax return, which you can file for FREE with TurboTax.
You Might Also Qualify for the Earned Income Credit
The earned income tax credit is a benefit for working people (especially those with children) with low to moderate income.
With the Earned Income Credit, a single person can qualify for a maximum refund of about $500, while those with children can claim up to about a $7,000 refund.
How Much Income to Qualify for the Earned Income Credit
Like most numbers is our complicated tax code, the exact income to qualify for the EITC changes yearly. As of last year, a single person can make no more than about $14,500 to qualify, while a family with children can make no more than about $38,000 to $52,000 depending on the number of dependents.
Filing For Your Tax Refund – How Long Do You Have?
If you haven’t filed your taxes, you have up to three years to do so before you no longer qualify for a refund. Example: If you paid Federal income taxes on income you maid in 2014, you have until April 15th 2017 to file your back taxes and claim your refund.
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- $1 Billion in IRS Unpaid Refunds – Federal Income Taxes Not Filed