Report: Disabled taxpayers unaware of credits, deductions
The group, Allsup, found some with disabilities did not know about certain tax credits or deductions.
“In fact, certain credits are refundable, meaning you can get money back even if you owe no taxes,” said Paul Gada, a tax attorney and personal financial planning director for the Allsup Disability Life Planning Center.
In addition to using credits and deductions, the group urged persons with disabilities to learn how Social Security Disability Insurance and other benefits are taxed.
Allsup mentioned the Earned Income Tax Credit, among others, as a tax preference to be aware of. The government has pushed to ensure that eligible taxpayers know about that credit, while the IRS has also come under some fire for the number of improper EITC payments that have been issued.
Copyright 2024 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed..