by Deborah Ritz
Filing Deadlines:
In order to meet the filing deadline for tax year 2015, income tax returns or extensions must be properly transmitted and acknowledged or addressed, mailed and postmarked by Monday, April 18, 2016.
The later filing date is due to the Washington D.C.
Emancipation Day holiday being observed on April 15 instead of April 16, 2016, Tax Day is on the following Monday.
Returns calculated with refunds can be filed up to three years after the official filing date of the return in question.
Using that information the final date a taxpayer can file for a refund for tax year 2012 is Friday April 15, 2016; if you had an extension that tax year, your deadline is October 15, 2016.
Is the IRS holding onto your money?
Unclaimed 2012 tax credits represent part of the unclaimed $1 billion in the IRS’s coffers. Those with low or moderate incomes may be eligible for the Earned Income Tax Credit even if they didn’t have a tax bill.
If your 2012 income fell below these limits, you might be able to claim EITC by filing a 1040EZ, 1040A or 1040 return by April 15, 2016:
• $13,980 ($19,190 if married filing jointly) and no qualifying children
• $36,920 ($42,130 if married filing jointly) and one qualifying child
• $41,952 ($47,162 if married filing jointly) and two qualifying children
• $45,060 ($50,270 if married filing jointly) and three or more qualifying children
If you did not file taxes because your income level does not require you to file, the IRS might owe you a refund.
This is because an Earned Income Tax Credit (EITC) has been awarded to low wage earners.
If you qualify, the credit could easily outweigh any tax obligation.
For 2015, the credit is worth as much as $6,143.
The EITC helps individuals and families whose incomes are below certain thresholds.
More EITC information is available on line at www.irs.gov/
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