Electric cars are entitled to a tax credit if they qualify. The value of the IRS tax credit ranges from $2,500 to $7,500, depending on the electric vehicle in question. Size and battery capacity are the primary influencing factors.
Are Electric Car Tax Credits Available?
Yes, most electric cars are still eligible for this tax credit. Currently, Congress has set the phase-out limit of electric cars sold at 200,000 units per manufacturer. After that the credit begins to phase out for that manufacturer.… Read the rest
Here is a breakdown of everything you need to know about the Child Tax Credit and Additional Child Tax Credit
How Much do You Get Back in Taxes for a Child?
The child tax credit for 2020, 2021, allows you to get back up to $2000 per child in taxes. This is a tax credit, which means it reduces your tax bill dollar-for-dollar, which makes it highly valuable for all families.
With an online e-filing service, you may be able to get your tax refund back in just eight days, especially if you opt to receive it through direct deposit. Last year, the IRS said they managed to provide tax refunds to 90% of taxpayers in 21 days or less.
The New Tax Refund Schedule Dates
For this year, the official start date has not yet been announced by the IRS. The IRS never keeps an official calendar, but they regularly provide an estimated tax refund schedule that says the majority of filers will get their money in 21 days or less, from the date their return is received.… Read the rest
Printable IRS Tax Forms can be downloaded using the links found below. However, there’s a better way to get your tax forms.
The Best Way to Get Your IRS Tax Forms
IRS tax forms can be downloaded in a far superior way by using online tax software. Platforms like TurboTax Online and H&R Block Onlinewill enable you to enter your information into the system and have the correct tax forms supplied automatically.
New Printable IRS 1040 Tax Forms, Schedules & Instructions
The child tax credit is a type of tax credit available to parents and guardians who want to reduce the amount of tax they pay this year.
This tax credit will take your overall tax bill and reduce it dollar for dollar. It’s one of the most rewarding types of tax credits working people can take. If you have a qualifying income, you may be able to take the full value of the child tax credit.
It all depends on how many qualifying children you have and how much you make, though.… Read the rest
If you are expecting a tax refund, you probably want to know just how much of a refund you’ll be getting back in taxes? However, coming up with an accurate estimate is not always easy. So, today, we will discuss two websites that offer a free online tax refund calculator for 2020, 2021.