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The kiddie tax was enacted as part of the Tax Reform Act of 1986, P.L. 99-514, §1411.It was first effective for tax years beginning after Dec. 31, 1986. The kiddie tax was originally enacted as Internal Revenue Code §1(i), but in 1990 it was redesignated as §1(g) by the Omnibus Budget Reconciliation Act, P.L. 101-508.
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The Child Support Enforcement Agency. Unlike alimony, which is for the spouse’s benefit, child support is for the child’s benefit. Tax Treatment of Child Support. So, is child support tax ...
Similar to how credit card companies offer compromises on large debts by allowing consumers to negotiate ways to trim down what they owe significantly, the IRS offers the same for your tax bill....
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.
The premium tax credit is a refundable tax credit in the United States that’s designed to help eligible individuals and families with low or moderate income afford marketplace health insurance.
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Under the TCJA, key changes were made to individual tax laws, including the near-doubling of the standard deduction and increasing the child tax credit to $2,000, from $1,000.
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