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New rule helps those who lost jobs in 2020 get tax credits

Source: https://bostonherald.com/2021/01/24/new-rule-helps-those-who-lost-jobs-in-2020-get-tax-credits/ - Jan 25, 2021

Many lower-wage workers who are raising families bank on receiving a healthy, four-figure tax refund, likely their biggest single check of the year, when they claim the Earned Income Tax Credit on their income tax returns.

But what happens if you ended up being out of work much of 2020 during the pandemic? Are you suddenly shut out of the earned income credit, which as the name implies requires that you work and earn money? Will you now see hundreds or even thousands of dollars disappear from your tax refund?

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Category: General Business