The Federal Tax Credits Blog

Know Before You File: 11 Tips to Save Taxpayers Time, Money

KANSAS CITY, MO–(Marketwire – 01/12/11) – Late passage of tax legislation and delayed processing of some tax forms may make taxpayers wonder how this tax season will differ from last season. As the IRS prepares to accept e-filed returns Jan. 14, H&R Block is taking the guesswork out of tax season by offering taxpayers 11 tips to help them navigate tax season 2011: 1. Put your 2-percent raise to …

Question: Grad school financial aid eligibility?

I’m about to graduate with my undergraduate degree, and thankfully my parents have paid all $150,000 of my tuition this far. Unfortunatley, that is it, and I will be responsible for any future educational costs. I’m 21 years old, and working part-time as I finish my degree. My plan is to begin full-time employment this summer with expected earnings of around $50,000/year. This is obviously no where near enough to cover tuition.

My question is, if my parents stop claiming me on their taxes, will I be eligible for financial aid on my own? My parents make too much money, so using them will squash any financial aid awards. Also, my credit is horrible. If I get loans, I will need my dad to cosign, and I’m afraid that will cause his finances to dictate what type of financial aid package is extended.

Answer: If you are a graduate student, you do not have to report parental income on your FAFSA. Usually stafford loans do not require cosigners.

Fitch Rates Fort Wayne Air Trade Center Bldg Corp., IN’s Taxable First Mtge Rfdg Bonds ‘AA+’

Fitch Ratings assigns an ‘AA+’ rating to the following Fort Wayne International Airport Air Trade Center Building Corporation, Indiana obligation:

Health Reform: What Employers Should Know for Now and for the Future – Part 1

Question: First Time Home Buyer Tax Credit?

okay so i know that’s it’s been extended through april but my question is if i will be able to claim my tax credit on 2009 tax return. I am in the middle of escrow right now and it’s expected to close on Dec. 28th. But just in case there is some delays it might go into early january… if it does will i be able to claim it on the return? and if i’m not able to when would i receive the tax return, will i have to wait until 2010 tax return because i know a few people who have just got a home and they received there checks within a couple months of closing escrow and didn’t even have to wait for there tax return…help?

Answer: If you don’t close until January, you can still file for the credit when you file your 2009 return as long as you’ve closed by the time you file.

2010 in Politics

Rarely, if ever, has a govt been so severely tested in the second year of its first term by catastrophes outside its control.

627 Tolna Street, Baltimore, MD 21224 – CONTRACT!

Question: Are there 2008 energy tax credits this year?

Been looking on Google and I can’t figure out if there are or not.

Answer: As of now, the credit for energy efficient home improvements expired as of 12/31/2007.

Congress can always choose to extend it when they come back after the election.

New tax law packed with obscure business tax cuts

WASHINGTON — The massive new tax bill signed into law by President Barack Obama is filled with all kinds of holiday stocking stuffers for businesses: tax breaks for producing TV shows, grants for putting up windmills, rum subsidies for Puerto Rico…

Zero-Energy Designation Good For $2000 Tax Credit

Question: I have an income support/child tax credit problem?

my husband recently lost his job and we have had to return to income support. over the 2 months we were waiting for income support to get sorted out we were still recieving working family tax credt as we weren’t sure what benefit they would put us on. now income support have taken every penny of working family tax credit that we recieved off us. even though we were entitled to child tax credits that haven’t been payed instead. now we are only going to recieve £40 a week for a family of 3. i thought we’d have to pay working Family Tax Credits back with the child tax credits we were due and that income support would stay out of it. now we’re left with no idea what is going n, but i think we’ve been cheated out of alot of money.

how can income support say we need £130ish a week to live on and then take the money the inland revenue give us for our child out of that. i don’t get how that works out?

Answer: My advice to you is to ring the Inland Revenue Tax Credit Helpline – 0845 300 3900 and ask what has happened.

They could very well have made a mistake with your claim.

I do know that to receive any working tax credit you or your partner need to be working a min 16 hours a week but surely you should be receiving some form of child tax credit.

Speak to them, they are very helpful and will sort this out for you.

Technical textile industry deserves tax sops: FICCI

Growth-supportive sops, including tax incentives, should be given to exploit the huge potential of the country’s technical textiles industry, which is in a nascent stage, the Federation of Indian Chambers of Commerce and Industry (FICCI) says.

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