The Social Security Fairness Act eliminates two longstanding provisions: TheWindfall Elimination Provision(WEP) and theGovernment Pension Offset(GPO). The WEP, established in 1983, is a formula used to reduce Social Security benefits for those who also receive disability benefits or a pension—specifi...
The IRS offers the Child Tax Credit to help reduce the tax burden for families with qualifying children. There are strict requirements for this non-refundable tax credit, including age, relationship, citizenship, and more. Find out if you qualify for the
The Affordable Care Act requires all Americans to have health insurance or pay a tax penalty. But, who qualifies for an Affordable Care Act exemption? Find out more about who qualifies for an exemption from the Affordable Care Act tax penalty....
We describe what qualifies as a 1099 vendor in this article. This article isn’t intended to give you tax or legal advice. Consult your CPA or attorney and read Form 1099-NEC and 1099-MISC instructions, including filing requirements, on the Internal Revenue Service website at irs.gov. What...
Who Qualifies for the Additional Child Tax Credit? Now that we understand the concept of the ACTC, let’s dive into eligibility requirements. To qualify for the Additional Child Tax Credit, you must meet the following criteria: Be eligible for the Child Tax Credit (CTC):You must have a ch...
Earned Income Tax Credit: What It Is and Who Qualifies The earned income tax credit (EIC or EITC) is for low- and moderate-income workers. See qualifications and credit amounts for 2024 and 2025.Many, or all, of the products featured on this page are from our advertising partners who co...
Eligible families will receive up to $1,800 in cash per child through December, part of the American Rescue Plan that President Biden signed into law in March. The $1.9 trillion relief bill boosted the child tax credit – previously worth up to $2,000 for every child under the age of ...
If eligible, and if the Department of Social and Health Services determines that an individual requires assistance with at least three activities of daily living, WA Cares provides benefits of up to $100 day, up to a maximum lifetime limit of $36,500. Who qualifies for WA Cares benefits?
medical services, and rent subsidies are available to those who qualify. Taxpayers fund these programs from which recipients often receive biweekly or monthly payments in
Anyone who qualifies for no-cost Medicare Part A can enroll for Medicare Part B benefits. Medicare Part B requires you to pay a monthly premium based on your income level. If you don't qualify for no-cost Part A coverage, you can purchase Part B independently if you are age 65 or old...