| Q: What services does Action Tax Express offer?
A: Action Tax Express is a year round tax preparation service. We offer Refund Anticipation Loans (RAL痴), Electronic Refund Checks (ERC痴), Electronic Refund Deposits (ERD痴), basic e-filing, and paper returns. RAL痴 are available until the end of May, ERC痴 and ERD痴 are available until the end of October, and E-filing is available year round. In addition, Action Tax Express will review any prior year return free of charge to make sure you do not have more money due you that you did not claim.
Q: What is a RAL?
A: A RAL is a loan from the bank against your tax refund. Most people will qualify for A RAL, and the time frame is usually within 24-48 hours.
Q: Do I need to pay up front to have Action Tax Express prepare my return?
A: Most times, no. If you want an RAL, ERC, or ERD the fees are automatically deducted from the amount of your refund. If you want us to prepare a prior year痴 return, or you want a paper file, then the fees must be paid up front.
Q: What do I need to bring in to have my taxes prepared?
A: All earning statements (W-2痴, 1099痴, Gambling Winning statements, and any other form you receive stating earnings); ID for the Primary Tax Payer and Spouse (if applicable). If you have any deductions, such as mortgage interest, gambling losses, or charitable contributions, we will need proof of that as well.
Q: What is the Earned Income Tax Credit?
A: The Earned Income Tax Credit is a refundable Federal income tax credit for low-income working individuals and families.
Q: How do I qualify for the Earned Income Tax Credit?
A: Income and family size determine the amount of the EITC. To qualify for the credit, both the earned income and the adjusted gross income for 2003 must be less than $29,666 for a taxpayer with one qualifying child ($30,666 for married filing jointly), $33,692 for a taxpayer with more than one qualifying child ($34,692 for married filing jointly), and$11,230 for a taxpayer with no qualifying children ($12,230 for married filing jointly). A qualifying child is one who meets the three tests below.
Relationship:
A qualifying child is a child who is your son, daughter, adopted child (placed with you by a government agency), or a descendant of any of them (for example, your grandchild), or your brother, sister, stepsister or brother, or a descendant of any of them (niece or nephew) whom you cared for as you would your own child.
Age:
A child must be 18 years old or younger at the end of the tax year, or be under the age of 24 and be a full time student; or any age and totally and permanently disabled.
Residency:
A child must live with you in your household for more than half of the year in order to be claimed.
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