They basically just got rid of the flat definition which said a foster child is any child you care for as your own and cared for the entire year. In a way, a lot more people could qualify for the Earned Income Credit than did before.
More Quotes from Cindy Hockenberry:
Those payments are seized by the government.Cindy Hockenberry
It's pretty common for people not to consider all the things they can deduct. They don't realize that maybe they have a vacation home and they don't take the interest because they think they can't.
Cindy Hockenberry
If you want to save tax dollars, deferring your funds into a retirement account is probably the best solution. That money grows tax free and (if you take out a traditional IRA) you reduce your taxable income in the year you make the contribution.
Cindy Hockenberry
For this year there's not a lot than anyone needs to worry about.
Cindy Hockenberry
You'd be surprised Many people think that if they throw their audit letter away it's gone. But it's not. The IRS isn't going to leave you alone. They'll keep at you until they get their audit.
Cindy Hockenberry
Tax laws are constantly changing. There have been six major tax bills passed in the last two years alone. Average taxpayers are not likely to be aware of all the changes that may affect their tax return. A tax professional stays abreast of these changes, and, as a result, is in a better position to assist taxpayers with filing accurate returns and claiming all the deductions and credits to which they are entitled.
Cindy Hockenberry
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