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A Staggering 25% of Americans Fail to Claim Earned Income Tax Credit – California Link in Study

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.”

The tax preparation staff at Allen Barron is supported by seasoned accountants, CPA and tax attorney expertise.  We work to ensure that our clients receive every deduction and tax credit available to them under US tax law.  It doesn’t matter how complex your business or personal tax returns have become.  If you have offshore investments or accounts, interest in a foreign corporation, own multiple companies, or simply have a diverse portfolio of interests Allen Barron can minimize your tax burden, save you money and protect your interests.

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.