Higher Ed Commission announces tax credit for student debt

Maryland Higher Education Commission (MHEC) Secretary James D. Fielder announced that applications for the 2018 Student Loan Debt Relief Tax Credit are now being accepted, according to a news release. This year, both undergraduate and graduate student debt is eligible for the tax credit, and the application can be downloaded by going
Wed, 29 Aug 2018 04:04:45

Tesla confirms hitting federal tax credit threshold, $7,500 credit cut in half at end of 2018

After refusing to confirm the timing of the federal tax credit phase-out for months, Tesla has now confirmed that it has hit the 200,000th US delivery threshold, which triggered the phase-out period. Tesla buyers will lose the full $7,500 credit by the end of the year unless the law is changed, hitting $3750 for
Thu, 12 Jul 2018 10:29:32

Relax, Most Tesla Model 3 US Reservation Holders Will Still Benefit From US Federal EV Tax Credit

The interweb was on fire on Monday July 2 about the possibility that Tesla actually delivered its 200,000th EV in the US in June. US Model 3 reservation holders freaked out and Tesla haters and shorters saw it as another sign that the end of the Tesla was near.
Thu, 5 Jul 2018 19:59:33

Denying the Child Tax Credit to Undocumented Children

This article appears in the Summer 2018 issue of The American Prospect magazine. Subscribe here. Whether it's being ripped from their parents at the border or being forcibly withheld from joining their relatives in the United States, undocumented children have become casualties in the Republican crusade against immigrants deemed undesirable.
Thu, 28 Jun 2018 09:02:18

How to Qualify for Tax Credit on Energy Efficient Windows

The federal income tax credit for energy efficient window replacements has been raised recently. Purchases on windows could be reimbursed for 30% of their total expense up to $1,500 for every household, if you qualify. This latter figure represents a 50% increase over the same tax credit of two years ago. This
Sun, 10 Jun 2018 17:03:00

Film News Roundup: California Production Tax Credit Extension Moving Forward

In today's film news roundup, California legislators have started working on an extension of the production tax credit, Golden Lion winner Lorenzo Vigas is working on his next film and Tribeca zombie thriller "The Night Eats the World" gets sold.TAX CREDITSCalifornia legislators have begun the process of extending the California Film and
Fri, 20 Apr 2018 17:14:00

Credit Karma: Almost No One Is Reporting Crypto Tax Gains

Users of Credit Karma's tax preparation software appear to be under-reporting their cryptocurrency holdings, according to data provided by the company. Fewer than 100 of the first 250,000 federal tax returns filed using the service reflected cryptocurrency gains or losses, the company reported. A spokesperson told CoinDesk in a statement that the
Fri, 13 Apr 2018 20:06:14

The Illinois tax credit scholarship program will cost our schools

A better question than " Why would Pritzker want to limit choices for poor kids? " is: Why doesn't Kristen McQueary believe all schools receiving public funds should have to offer the same opportunities and provide the same services as public school districts to all students? Public schools are required by statue to
Thu, 12 Apr 2018 21:15:00

A Tax Credit Lifts Families From Poverty

One of the federal government's biggest, if often overlooked, anti-poverty programs is the Earned Income Tax Credit, or EITC. As tax season comes to a close, there is still time to take a look at how the EITC works, who can benefit from this program and why some experts think it should be
Wed, 11 Apr 2018 21:46:47

Are Proposals to Tax Credit Unions a New Nonprofit Policy Front?

April 4, 2018; Gazette (Cedar Rapids, IA) NPQ has long been writing about state and local attempts to tax nonprofits or ask for payments in lieu of taxes (PILOTS). These efforts have largely been aimed at large institutions-the "eds and meds" among us-which often pose a tempting target. The Tax Cut and Jobs Act
Wed, 11 Apr 2018 15:54:06

Earned Income Tax Credit claims are less likely after IRS audits

Low-income workers asked to verify they qualify for the Earned Income Tax Credit (EITC) are less likely to claim the wage subsidy - or even file a federal tax return, a new paper finds. Researchers estimate that when taxpayers claim the EITC and the IRS asks for written evidence of eligibility,
Wed, 11 Apr 2018 14:18:42

what is a tax credit project