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Tag Archives: credit
The Earned Income Tax Credit (EITC) is a refundable federal income tax credit that was first offered to taxpayers back in 1975 to help prevent low income families from slipping into poverty. EITC can mean tax relief (lower taxes) for … Continue reading
This blog post lists some of the Annual Inflation Adjustments published by the IRS today that are interesting not only to CPAs and tax attorneys. It may be helpful to understand that the 2012 “tax year” was last year (for taxes filed … Continue reading
The health care coverage mandates under the Affordable Care Act are scheduled for January 1, 2014. So what will it mean for business owners? The small business health care tax credit is the carrot for small business owners to contribute to their … Continue reading
As I was looking around on the redesigned IRS website today, I came across the “Understanding your IRS Notice of Letter” page and was reminded how much I like it. It features a table of IRS notices organized by notice number, and … Continue reading
Movie and television producers are going to realize, if they don’t know already, that they won’t find maximum tax relief by setting up shop in New Jersey. You probably heard about New Jersey’s governor, Chris Christie’s denial of a $420,000 tax credit for MTV’s Jersey … Continue reading
The Earned Income Tax Credit (EITC) is a refundable credit for low to moderate income households. It is a very desirable form of tax relief because it actually puts money back in their pockets . . . if they qualify. The problem is that … Continue reading