Just some quick notes today about the EIC. That's not the thing from Finding Nemo. The crush rode with Nemo to Australia. No, the EIC is the earned income tax credit that has some special provisions this year. For you and your tax preparer, I will only cover the basics and what's new today. Awesome dude! Totally, the EIC is for lower-income earners who have less than $3,200 in investment income and have valid social security numbers. You must be employed or self-employed to claim this credit. The amount of the credit depends on your income and filing status. And as you can see from this slide, it is confusing. But we are talking about taxes, aren't we? The EIC is a refundable credit intended to help lower-income wage earners. That means even if you get back all of your income tax withholding that they took out of your check, you could still get back up to $5,891, as the slide shows. If you qualify for the EIC, in addition to all of that withholding, it's refundable. Now, a lot of people get upset at this and say, "Why should someone who doesn't pay any income tax get a credit back?" What they don't realize is that all wage earners, every single one, pay Social Security and Medicare taxes on every single dollar they earn. You don't get those back until you retire. The original intent of the EIC was to help offset those taxes for those who could least afford it and who worked for a living. There are no welfare cheats allowed in this program, but that's the old news. We're here to see what's known. What can help avoid delays in our tax returns? The main difference this year is that your tax preparer has to include...
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Irs pub 596 2023 Form: What You Should Know
E-File Form 990-PF, 990-EZ in Online Filing: Non-Profit Organizations Nonprofit Tax-Exempt Organization E-File Form 990-PF, 990-EZ Online With a 1040EZ How to file Form 990-PF: Nonprofit Tax-Exempt Organization E-File Form 990-PF by July 30, 2019, What is 990-PF or Form 990-EZ? There are two forms of Form 990: Form 990-PF for public charities and Form 990-EZ (formerly Form 990-PF) for private organizations. The Form 990-PF is for all U.S. tax-exempt organizations that have the status, but not the amount of income, of the charity. These are government and churches organizations and private Churches that own and operate for profit. Nonprofit tax-exempt organizations that are not government and churches organizations or that have no income need not file a Form 990-PF. Where can I find the Form 990-PF for tax years beginning before July 1, 2019? The Form 990-PF for tax years beginning after July 1, 2019, is available from the IRS. What is the Form 990-PF for tax years beginning after July 1, 2018? The Form 990-EZ is for tax years beginning before July 1, 2018. The Form 990-EZ is for all U.S. tax-exempt organizations that have the status, but not the amount of income, of the charity. The Form 990-EZ is for tax years beginning on or after the due date of the tax return, even if there is a delay in filing the return. Who is required to file Form 990? The Form 990-EZ is required of all U.S. tax-exempt organizations that have the permanent establishment activity. Are you filing the form for public charities? Nonprofits are required to file Form 990-PF. Public charities are required to file Form 990-N, 990-EZ, or 990-EZPF. Private foundations are required to file Form 990-PFPF. When do nonprofit organizations e-file in Online Filing? When a form is needed, the entity must file the form online using the Online Filing feature.
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