Common tax misconceptions and tips - NBC Right Now/KNDO/KNDU Tri-Cities, Yakima, WA |

Common tax misconceptions and tips

Posted: Updated:

KENNEWICK, Wash. --   It's tax time, W-2 are coming in and people want their refunds.  However, there are some misconceptions floating out there about certain tax credits.

The assistant manager at Liberty Tax in Kennewick and Richland, Nancy Conter says many people come in expecting a large return for the child tax credit, which offers up to $1,000 for each child that's a dependent under 17 years old.

She says all the credit does is lower the filer's tax liability, so they owe less money in the end.  But she says people are expecting to get large returns in the mail, which is not the case.  The IRS is also paying attention.

"We as paid prepares need to do more due diligence this year and every year on earned income credit because there are so many people that are trying to fraudulently claim children that are not theirs that they are not entitled to claim.  But they want to claim because they think their earned income credit will give them a huge refund," says Conter.

Conter also says there are many people coming in trying to file for their taxes without a W-2 and only their pay stubs.  She says those people have to wait until February 15, by federal law to file their taxes. Click here for more tax tips.

HD DOPPLER 6i
/