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Electric Vehicles. 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 ...
A first time homebuyer tax credit offers a direct reduction of the amount of income tax you owe. The U.S. federal government offered a tax credit program to first-time homebuyers (including those ...
3 Tax Credits Return to Pre-Pandemic Levels, Meaning Refunds Will Be Lower for Many. Those who received $3,600 per dependent in 2021 for the Child Tax Credit will, if eligible, get $2,000 for the ...
e. The United States federal child tax credit (CTC) is a partially-refundable [a] tax credit for parents with dependent children. It provides $2,000 in tax relief per qualifying child, with up to $1,400 of that refundable (subject to a refundability threshold, phase-in and phase-out [b] ). In 2021, following the passage of the American Rescue ...
The United States federal earned income tax credit or earned income credit ( EITC or EIC) is a refundable tax credit for low- to moderate-income working individuals and couples, particularly those with children. The amount of EITC benefit depends on a recipient's income and number of children. Low-income adults with no children are eligible. [1]
1040. As of the 2018 tax year, Form 1040, U.S. Individual Income Tax Return, is the only form used for personal (individual) federal income tax returns filed with the IRS. In prior years, it had been one of three forms (1040 [the "Long Form"], 1040A [the "Short Form"] and 1040EZ - see below for explanations of each) used for such returns.
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