The Earned Income Tax Credit (EITC) is a vital component of the U.S. tax code, aimed at providing financial relief to low and moderate-income individuals and families. Since its inception...
Posted by Pat Raskob on 10/23/2023
In 2017, 49% of adults aged 55 to 66 had no retirement savings; this is according to the US Census Bureau. Since that time, various policies such as the Secure Act 2.0 have been used...
Posted by Pat Raskob on 07/29/2023
As people grow older or experience disabilities, it can become harder to meet financial obligations. In recognition, the United States government offers several tax credits to help...
Posted by Taxes Made EZ Inc on 03/31/2023
The first-time home buyer's tax credit was introduced during the 2008 financial crisis to help Americans buy more affordable homes. Although there are many other mortgage and loan...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 12/18/2022
Since 1996, parents and guardians in America have been eligible for adoption assistance in the form of tax credits and adoption assistance programs after several interest groups began...
Posted by Taxes Made EZ Inc on 02/22/2022
Of the more than 143 million taxpayers, you might think the IRS is worried enough and will never know whether you are paying your taxes late or not.But no matter how busy the IRS is...
Posted by Taxes Made EZ Inc on 09/20/2021
A tax credit allows you to deduct a certain amount of money from the taxes you owe. It differs from a tax deduction, which allows you to reduce your taxable income. Tax credits are...
Posted by Rosovich & Associates, Inc. on 06/24/2021
The child tax credit is a credit that can give you up to $2,000 for each qualifying child while a qualifying dependent gets $500. It is a refundable tax credit that diminishes when...
Also known as EITC or EIC, the Earned Income tax Credit is a refundable credit, meaning that if you owe no tax and you qualify, you will get the value of the credit. The idea is to...
Posted by Karen Munoz, EA on 09/03/2021