3 Ways to Score a Higher Tax Refund This Year
Though not everyone who files a tax return gets a refund from the IRS, the majority of filers do. And this year, that money may come in even more handy than usual.
Many households have lost income or incurred extra expenses in the course of the coronavirus pandemic, so an influx of cash could be especially useful during these trying times. And if you play your cards right, you might manage to snag an even higher refund this year than you've gotten in the past. Here's how.
There are a number of lucrative tax credits that could put extra money back into your pocket, so knowing which ones to claim is crucial. If you're a low or moderate earner, see if you're eligible for the Earned Income Tax Credit. If you have kids under the age of 17, be sure to sign up for the Child Tax Credit, which could pay you up to $2,000 per eligible dependent. And if you never got a stimulus payment but were eligible, don't hesitate to claim that cash via the Recovery Rebate Credit.
Source Fool.com
