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Tax Information
Welcome to Accurate Express Tax Service - the trusted partner for all your tax preparation and tax debt settlement needs.

Overlooked Credits & Deductions

Earned Income Credit (EIC)
The EIC is designed to offset the burden of Social Security taxes for low-income workers. You can claim this tax credit even if you have no tax liability. 

You may qualify for the EIC if your earned income and adjusted gross income are less than:
·         $12,880 ($15,880 if Married Filing Jointly) with no qualifying children.
·         $33,995 ($36,995 if Married Filing Jointly) with 1 qualifying child.
·         $38,646 ($41,646 if Married Filing Jointly) with more than 1 qualifying child.

Child Tax Credit
You can claim $1,000 for each child. The 2008 Child Tax Credit begins to phase out when your AGI is more than these limits:
·         $75,000 if Single, Head of Household or Qualifying Widow(er)
·         $110,000 if Married Filing Jointly
·         $55,000 if Married Filing Separately

If your income tax is reduced to zero and your earned income is more than $8,500 (for 2008), you may be eligible to claim the additional Child Tax Credit.

Saver's Credit
If you qualify, you could get a tax credit for up to half of what you contribute to a qualified retirement plan or IRA. Claim the Saver's Credit if you meet all the qualifications:

·         You're age 18 or older.
·         You aren't a full-time student.
·         You aren't claimed as a dependent on someone else's return.
·         Your AGI doesn't exceed $26,500 ($53,000 if Married Filing Jointly,    or $39,750 for Head of Household).
Education Tax Benefits
Even if you don't itemize your tax deductions, you could save money with these education credits and deductions.