Scottsdale, AZ -- (SBWIRE) -- 11/28/2016 -- In what could be an essential update for taxpayers, independent website fileyourtaxesnow.com has recently launched a new article that explains in detail the 2017 Earned Income Tax Credit or most commonly known as EITC. It may be maintained that the information posted on the article is based on the resolutions and guidelines set by the Internal Revenue Service (IRS) of America.
A representative of the site noted, "The EITC is regarded as the country's second largest means-tested cash welfare program. The EITS's main purpose, as we all know, is to provide refundable tax credits to the low-income individuals and to families with children. It is very important for a taxpayer to have relevant information and understanding of EITC so that any kind of issues can be avoided."
He also maintained that the EITC was one program that has appeared to have more fraud than any other welfare programs in the country in recent years. The representative added that the article has offered basic vital information such as when to claim the 2017 EITC, income limits, tax amounts, eligibility for claiming the EITC, and so on. Besides, he also informed that a credit table has been provided which can be useful for taxpayers.
In addition to the EITC, the website has also posted some other tax information which can be equally useful to go through.
In a recent development the IRS had been empowered to hold refunds for anyone claiming EITC or ACTC until February of 2017. This new law enables IRS not only a portion of the EITC or ACTC but the entire fund. It has also been included that, though, tax payers should have to file their returns as usual.
Another federal law has been aimed at accelerating the W-2 filing deadline for employers till the month of January next year.
For more details go to http://fileyourtaxesnow.com/2017-earned-income-tax-credit-eitc/
About File Your Taxes Now
The website is an online source for essential pieces of information and understanding regarding tax. The website offers has posted articles on topics like expat taxes, Earned Income Credit Tax, retirement, tax tips, and health insurance. Visitors to the site will also find tax definitions, terms and dictionary in order to enhance their knowledge about tax.