Taxes

For most people who have filed a 2011 tax filing extension Monday, October 15th is the last day file. Many of the more than 11 million tax payers who requested automatic six-month extension thisyear have yet to file. Select people still have more time, including members of the military and others serving in Iraq. Afghanistan or other combat zone localities typically have until at least 180days after they leave the combat zone to both file returns and pay any taxes due.
For those of you who are planning to submit your 2011 taxes this Monday, October 15th, there are still certain taxesand deductions available. If you are one of those people, make sure that you double check your return for often overlooked ways to save.
There are Individual Deductions for Low to Moderate IncomeWorking Individuals and Families

If your income is low or moderate you may qualify for the Earned Income Tax Credit or EIC. When your earned income tax exceeds the amount of taxes owed you canreceive a refund, if you claim and qualify for the credit. To qualify for this credit you do have to meet certain requirements and file for the taxes regardless or not if taxes are owed. You can see ifyou are eligible by filling out the EITC Assistant Form
If you are College students or the parents/guardians of a college student and you paying for Higher Education then you may qualify for theAmerican Opportunity Credit. This benefit is available to a wide range of taxpayers, ranging from those with higher incomes to those who owe no tax at all. The full credit is available to individualswhose modified adjusted gross income is $80,000 or less, or for married couples filing jointly $160,000 or less. Many of those eligible qualify for the maximum annual credit of $2,500 per student. Thecredit is worth $2,500 of the cost used towards tuition, fees and course materials paid during the taxable year. Also, 40% of the credit (up to $1,000) is refundable, meaning that you can get it...