The Inflation Reduction Act of 2022 modifies and extends tax credits available to individual homeowners. It does this through two ways which are listed below. Energy Efficient Home Improvement Credit This nonrefundable tax credit is available to individuals
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As a parent with young children, you are faced with many rewards and challenges. One of which may be saving for the cost of a college education. The good news, there are two tax-favored options that might be
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Have you discovered a mistake on your tax return after you’ve already filed? If so, don’t panic. In most cases, all you have to do is file an amended tax return. How do I know if I need
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If you owe taxes this year and can’t pay in full, the IRS offers both short-term and long-term payment plans. You may qualify to apply online if: AS AN INDIVIDUAL Long-term payment plan (installment agreement): You owe $50,000
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If your contributions to charity begin and end with check writing, you may be missing out on some tax deductions. Getting There and Back You may deduct the costs of going to and from a location where you
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Changes were made to many tax credits and deductions in 2022 that experts say could lead many people to owe money when they file their IRS returns in 2023. Here are three of the most important changes to
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