If you can't claim the full Child Tax Credit because you owe less tax than the available credit, you may be able to claim the refundable Additional Child Tax Credit.
The Internal Revenue Service (IRS) has the power to seize income tax refunds when a taxpayer owes certain debts, such as unpaid taxes or overdue child support. Sometimes, a married couple's joint tax refund will be seized because of a debt for which only
In some cases, income excluded for tax purposes is not recorded on the return. In other cases, it is recorded in one section of the return and then deducted in another area. Tax Debt Relief The IRSFresh Startprogram helps taxpayers catch up on back taxes and avoid tax liens, levies, wag...
Parents and guardians of special needs children usually receive tax credits or deductions to help offset the cost of raising a special needs child. Families covered under a high-deductible health plan (HDHP) may also be able to maximize tax deductions with ahealth savings account(HSA). Some sp...
While child care expenses are not directly deductible, you may be eligible for the Child and Dependent Care Credit. Adoption expenses can be offset by the Adoption Tax Credit, which helps cover qualifying adoption costs.What's the Deduction Expense Claim Period?
If your child is attending a private K-12 school because they have special education needs, you may be able to get a tax break on the tuition. The deduction requires a physician’s referral. Under certain conditions, tuition, training and tutoring costs may be deductible. ...
Audits by the IRS can be random. Confidently handle an audit by the IRS with a dedicated expert who will represent you and communicate with the IRS on your behalf. TurboTax® partner,TaxAudit, will take care of everything for as long as your return can be audited, including: ...
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Interest from certain savings bonds may be exempt. Growth within an IRA is not taxable until distributions are taken. Roth IRA contributions do not have to be included on a tax return since they are not tax-deductible. However, depending on income thresholds, Roth contributions may be eligible...
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