Claiming Excess Social Security and Tier 1 RRTA Refunds
If combined withholding from multiple employers exceeds Social Security or Tier 1 RRTA wage bases, claim the excess…
Articles by & updated by Sai Sankar
Understanding the New and Used Clean Vehicle Credits (Updated Rules)
Follow this guide to confirm MAGI and vehicle eligibility, collect dealer-reported VIN and battery details at sale, take…
Energy Efficient Home Improvement Credit: $3,200 cap through 2032
From 2023–2032, the Energy Efficient Home Improvement Credit covers 30% of qualifying upgrades, up to $3,200 annually ($1,200…
Residential Clean Energy Credit Ends 2025: What Qualifies
The 30% Residential Clean Energy Credit now ends for homes on December 31, 2025. Installations must be placed…
ACA: $0 Penalty for Not Having MEC and Reporting Essentials
Although the ACA penalty is $0 federally after 2018, MEC reporting continues. Forms 1095-A (due Feb 1), 1095-B…
Understanding the Foreign Tax Credit: Form 1116 Rules and FEIE Limits
The FTC lets U.S. taxpayers offset U.S. tax by foreign income taxes paid on income included on their…
Expanded Premium Tax Credit Through 2025: Who Qualifies
The premium tax credit is extended through 2025, letting some households above 400% of poverty qualify. Advance payments…
Understanding the Nonrefundable Adoption Credit: Eligibility and Special Needs
For 2024 the adoption credit is nonrefundable and maxes at $16,810 per eligible child; special-needs U.S. children qualify…
2024 Saver’s Credit (Nonrefundable): Eligibility, Rates, and Limits
For 2024, the nonrefundable Saver’s credit gives 50%, 20%, or 10% of qualifying retirement contributions (up to $2,000…