A tax credit directly reduces your tax liability on a dollar-for-dollar basis. This makes it a better option than a tax deduction, which simply lowers your taxable income. In some cases ...

The holidays – and the Internal Revenue Service — brought businesses that claimed the Employee Retention Credit some very good news. It was not that long ago that the IRS was claiming that the ...

Languages: English. The Child Tax Credit has helped to reduce poverty and improve the quality of life for millions of children. According to research from the U.S. Census Bureau, it lifted 2.1 ...

Alexander Spatari / Getty Images The clean vehicle tax credit is designed to encourage you to purchase an electric vehicle (EV), a plug-in hybrid, or a hydrogen-powered car. The program offers up ...

You can get in touch with Suzanne by emailing s.blake@newsweek.com. Languages: English Enacted in 1997, the child tax credit currently provides up to $2,000 per child to about 40 million families ...

Trump takes office. By Neal E. Boudette Sales of electric vehicles have been rising steadily over the past few years, in part because of a federal tax credit of up to $7,500 that makes buying such ...

The list of electric vehicles that qualify for the IRS clean vehicle tax credit has changed with the arrival of the new year. No longer linked to battery capacity, the credit of up to $7,500 is ...

About a year ago, Gov. Gretchen Whitmer called on Michigan lawmakers to create a research and development tax credit for businesses and a new fund to support start-up companies in the state.

Read our guide to learn about how much you can save with the federal solar tax credit in 2024. The federal tax credit covers 30% of a consumer’s total solar system cost, which means you could ...

For those applying for health insurance this year, premium tax credits offered through the ACA have given more Americans and small business owners coverage. However, these credits are set to ...

Medical aid tax credits are already as good as dead under the National Health Insurance Act—now law, but not in effect—but the end date is not yet set. This has been thrown in among the ...

Newly elected Sen. Bernie Moreno is investigating nearly $22 billion in tax credits stemming from President Biden’s Inflation Reduction Act that the Republican says are now subsidizing luxury ...