Source: Michelle Singletary, Washington Post ( Free Registration )

For millions of Americans filing their 2009 tax returns, things could be vastly different this year. The recession and the high unemployment rate have affected the tax situations for many people. As such, it’s important this year that you research the tax deductions or credits you now may be eligible to receive.

For example, you may have previously earned too much to qualify for the earned income tax credit (EITC), which was created to help those who work but have modest incomes. Last year, nearly 24 million people received $50 billion in EITC benefits, the IRS reports, with an average credit of more than $2,000. The EITC is one of the federal government’s largest anti-poverty programs.

Read Full Article: Important tax credit might be overlooked