Tax season is in full swing, and we are almost a month away from the deadline.
We talked with Kevin Baker, Liberty Tax Service’s franchise owner in Bristol. Baker told us about credits available for people who still need to file their paperwork.
He reminds parents that anyone who has children under 17 years old can claim children on their taxes. There is also a credit available for child care or uses a daycare while parents are working or looking for work.
Anyone who has paid for higher education for themselves or an immediate family member can claim the Lifetime Learning Credit or an American Opportunity Credit.
Baker also reminds you that money is still due next month, even if you have an extension. "An extension, just to let you know, is not an extension of time to pay the tax due. You still have to pay it by April 15, but it's just an extension of time to file the tax return," Baker says.
Baker also tells us that the Affordable Care Act will not affect this year’s taxes, but in 2015, people may receive credits or pay a penalty.