It's close to the end of January, and most of us should be receiving our W-2 forms and other tax-related documents for 2011 right about now.
It turns out that claiming Earned Income Tax Credit goes ignored by many Americans who qualify for this tax break each year, so Intuit has come out with a mobile app aimed to fill the gap.
Specifically, according to Intuit, the Internal Revenue Service estimates that 20 to 25 percent of qualified workers fail to claim EITC each year.
Enter the EITC Finder, a smartphone app for determining EITC eligibility. Instead of requiring the user to take a snapshot of any forms like Intuit's other tax-related apps, this calculator app asks a few questions that are supposed to be rather basic (i.e. How many children do you support?) to identify EITC eligibility.
Designed for lower and middle income taxpayers as well as nonprofits that serve these tax filers, the app then points qualified applicants to Free File software for transmit their returns electronically and possibly getting refunds within 7 to 10 days via direct deposit.
The best part is that it's free and sounds like it should be easy to use. Thus, if you think you might qualify for EITC or you're not sure, you might as well try it.
The app is available to download now for both Android and iOS devices.