When school's out on break, what do you do with your children? If you send them to a day camp, the money you pay may qualify for a tax credit when you file your taxes. This means you might get some money back. That's because day camp expenses can be used to claim the child and [...]
Many workers with low-to-moderate income may be eligible for the Earned Income Tax Credit, also called EITC. To get the credit, you must meet some basic requirements, but if you qualify, it can mean a bigger refund. The amount of the credit you can get depends on your income and family size. Families with at least [...]
This article was published by the IRS. The IRS' tax year 2022 annual inflation adjustments for more than 60 tax provisions, including the tax rate schedules and other tax changes, are as follows. Revenue Procedure 2021-45 provides details about these annual adjustments. Highlights of changes in Revenue Procedure 2021-45: The tax year 2022 adjustments described below [...]
This article was published by the IRS. The Internal Revenue Service has issued frequently asked questions (FAQs) for the 2021 Recovery Rebate Credit. Individuals who did not qualify for, or did not receive, the full amount of the third Economic Impact Payment may be eligible to claim the 2021 Recovery Rebate Credit based on their 2021 [...]
The 2021 recovery rebate credit was paid in advance to most people as the third round of economic impact payments. People who are eligible and received less than the full amounts may claim an additional amount as the recovery rebate credit and must file a 2021 tax return to claim it, even if they don't usually [...]
