SAN ANTONIO — It is tax time. The deadline is April 18. That gives you plenty of time to make sure you are getting the biggest refund possible.
It is up to you to make sure you are taking advantage of every tax credit available. The IRS is not going to correct your return so you get a bigger refund. If you do not put all the credits you qualify on your return, you will not get the extra money.
“The number one myth that I encountered from the time to time is that the IRS is going to help make sure your tax return is completely accurate with the biggest refund that you can get,” said Mark Steber, the chief tax information officer for Jackson Hewitt. “That is simply not the case if you leave off a credit, if you leave off a tax deduction, if you leave off any kind of benefit. The IRS is really just not set up to make sure you get that money.”
Steber said 20 percent of people do not take one of the largest credits available: The earned income tax credit.
“If you have earned income and lower to moderate income, depending one your filing status and marital situation, you may qualify for a credit up to $6,728,” Steber said. “Leave it off, it stays off. The IRS may know, but they don’t correct and send you a bigger check.”
You can claim the earned income credit if earned between $21,000 to $57,000. Check here to see if you qualify.