By Janathan L. Allen, APC of Janathan L. Allen, APC posted in IRS on Monday, December 14, 2015.
Why do more than 25% of eligible Americans fail to claim one of the easiest credits offered by the IRS – the earned income tax credit? In a new study published by Carnegie Mellon University the answer is actually quite simple: IRS tax forms are simply too hard to read and understand.
The researchers sent a revised and simplified form to 35,000 Californians who had failed to claim their earned income tax credit. The simplified form allowed 22% of those individuals to claim the earned income tax credit. One of the study’s main conclusions: “This study suggests that complexity … can deter regular people from acting in their own interest.”
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Don’t allow complexity to rob you of justifiable deductions and tax credits. We invite you to contact us for a free tax consultation at 866-631-3470. Learn about the protections of the attorney-client privilege and all that Allen Barron can do to support your personal or business tax requirements.
