A bipartisan group of Senators and Congressmen on Capitol Hill are currently negotiating a bill that includes increasing the Child Tax Credit from $2,000 to $3.6000. A vote on this bill is expected by the end of January and if passed and made retroactive for 2023 the IRS will need to update their forms and systems.
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News and Updates
22
Jan
Jan
Child Tax Credit Increasing?
28
Sep
Sep
Home Energy Tax Credits
If you made energy improvements to your home in 2023, you may be eligible for some new tax credits. The Inflation Reduction Act of 2022 did away with the old, and frankly useless, tax credits that only allowed you to deduct up to $500 for the lifetime of the taxpayer and replaced them with the ability to receive yearly incentives! Homeowners who improve their primary residence will find the most opportunities to claim credits, however, renters may also be able to claim credits too, as well as owners of second homes used as residences. That part is brand new and opens up lots of possibilities.
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