Learn what foreign tax credit you should be aware of if you’re a U.S. citizen living abroad, and how to report foreign income with Form 1116. The IRS requires U.S. citizens and U.S. resident aliens, ...

The Internal Revenue Service released a preview last Friday of proposed changes to several sections of IRS Form 6765, "Credit for Increasing Research Activities," and it could help both the agency and ...

While you get your tax information together this year, make sure you know which tax credits you are eligible for. Here’s what you need to know about tax credit qualifications and how to properly claim ...

With Form 8962, you are reconciling the tax credit you are entitled to with any advance credit payments (or subsidies) for the tax year. The size of your tax credit depends on the cost of available ...

Families filing a U.S. tax return may be eligible for educational tax credits when claiming their Purdue student as a dependent. In mid-January of each year, the Office of the Bursar will generate an ...

The Inflation Reduction Act of 2022 added Section 6418 to the Internal Revenue Code (the “Code”) to allow taxpayers to sell certain Federal income tax credits. These tax credits include: production ...

Social Security credits form the foundation for determining eligibility for a range of benefits, including retirement, disability, survivor benefits, and Medicare. These credits are earned through ...