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The standard deduction is rising 6.9% or 7.2%, depending on filing status, while the Earned Income Tax Credit amount will increase by 7.1%, the Internal Revenue Service announced this week.
Families are poised to see additional tax relief this season, via expanded Child Tax Credits, if Congress can get its act together fast. Check Out: Trump-Era Tax Cuts Are Expiring -- How Changes ...
There are two big changes to this credit. First, the amount of allowable credit has increased substantially. In the past, taxpayers were capped up to $3,000 for child care expenses for one ...
To pay for both the child credit and the corporate write-offs, the plan would phase out another tax provision — a COVID-19-era relief measure known as the employee retention tax credit. The IRS ...
Now the Child Tax Credit expansion is being considered by the Senate. If passed, the change would go into effect for the current tax filing season (2023) and continue for three years, ending after ...
If you make under $150,000 or have a combined family income under $300,000, you can get a $7,500 tax credit for qualifying new electric vehicles. For used electric cars, a $4,000 credit is ...
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