Several lesser-known tax credits could help you save even more money. Here are a few you should know about before filing your return.
According to a press release distributed earlier today, the Internal Revenue Service and the U.S. Department of the Treasury announced that the first round of the American Rescue Plan's Child Tax Credit (CTC) monthly payments will start being issued on July 15.
Job creation and booming enterprise just aren't materializing.
(Gazette) — The Prince George’s County Council is expected to vote Tuesday on whether to request specific goals for minority-based participation in developments that receive special tax incentives. Under County Resolution 98, any company that applies for Tax Increment Financing — a special arrangement where the county helps finance a development project and defers some […]
(Crain’s) — Illinois lawmakers have passed a bill that provides tax credits to investors in startups, a measure aimed at nurturing budding companies in the state’s technology and biomedical sectors. The bill, passed by the state Senate late Thursday, would take effect Jan. 1. It grants a 25% state tax credit to investors in early-stage […]
(Washington Business Journal) — A Maryland tax credit program aiding developers in finding new uses for older buildings got a new infusion of green Thursday. Gov. Martin O’Malley signed a bill earmarking $10 million for the state’s Sustainable Communities Tax Credit. The program replaces the state’s Heritage Structure Rehabilitation Tax Credit and expands eligibility to […]
(Yahoo/AP) — New tax breaks enacted last year are causing confusion for taxpayers and enforcement problems for the Internal Revenue Service, according to a government report issued Thursday, the deadline for filing individual returns. As of March 5, the IRS erroneously gave out $24.2 million in Making Work Pay tax credits, according to the report by J. Russell […]
(CNBC.com/Reuters) — Time is running out for home buyers seeking tax credits of up to $8,000, with purchase contracts needing to be signed by the end of this month and loans closed by the end of June. With just a month to cash in on the tax incentive, which is designed to infuse life into a […]