Clark wants to update you on your friends at the IRS. There's some good news that pertains to the earned income tax credit which allows people who don't owe any federal tax to get a credit when they file. 20 million people are eligible for the EITC, but only around 5 million take advantage of it. You usually have to have kids to qualify for EITC, and your income can be up to about $40K. But if you don't have kids and you made an exceedingly low income, you may still be eligible. The EITC will give you up to $4,700 back in your pocket. You may also want to check IRS.gov to see if you meet the income requirements for free filing.

On the flip side, there's bad news for rich folks. The wealthy are being audited at near-record levels. Those who earn $100K are more likely to be audited than those who don't, while those who earn $200K are twice as likely to be audited compared to those who earn $100K. If you make $1 million or more, you have about a 10 percent chance of being audited. While that may not sound like a lot, the cost to comply with a field audit is in the tens of thousands -- even if you're completely innocent.