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Claiming Excess Social Security and Tier 1 RRTA Refunds
If combined withholding from multiple employers exceeds Social Security or Tier 1 RRTA wage bases, claim the excess on Schedule…
Understanding the New and Used Clean Vehicle Credits (Updated Rules)
Follow this guide to confirm MAGI and vehicle eligibility, collect dealer-reported VIN and battery details at sale, take delivery, then…
Energy Efficient Home Improvement Credit: $3,200 cap through 2032
From 2023–2032, the Energy Efficient Home Improvement Credit covers 30% of qualifying upgrades, up to $3,200 annually ($1,200 general cap…
Residential Clean Energy Credit Ends 2025: What Qualifies
The 30% Residential Clean Energy Credit now ends for homes on December 31, 2025. Installations must be placed in service…
ACA: $0 Penalty for Not Having MEC and Reporting Essentials
Although the ACA penalty is $0 federally after 2018, MEC reporting continues. Forms 1095-A (due Feb 1), 1095-B and 1095-C…
Understanding the Foreign Tax Credit: Form 1116 Rules and FEIE Limits
The FTC lets U.S. taxpayers offset U.S. tax by foreign income taxes paid on income included on their U.S. return.…
Expanded Premium Tax Credit Through 2025: Who Qualifies
The premium tax credit is extended through 2025, letting some households above 400% of poverty qualify. Advance payments reduce monthly…
Understanding the Nonrefundable Adoption Credit: Eligibility and Special Needs
For 2024 the adoption credit is nonrefundable and maxes at $16,810 per eligible child; special-needs U.S. children qualify even without…