Tax Credit Claims Service
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Tax Credit Claims
Tax credits are financial incentives provided by governments to encourage certain behaviors, investments, or activities. They are designed to reduce the amount of taxes owed by offsetting a portion of the tax liability.
Types Of Tax Credits
Earned Income Tax Credit (EITC)
This is a tax credit for low to moderate-income working individuals and families. Eligible individuals can claim this credit to reduce their tax liability and, in some cases, receive a refund.
Child Tax Credit
This credit is available to parents or guardians of qualifying children. It provides a reduction in the amount of income tax you owe and can be partially refundable.
These include the American Opportunity Credit and the Lifetime Learning Credit, which help with the cost of higher education expenses.
Energy Tax Credits
These credits are designed to encourage energy-efficient home improvements or the use of renewable energy sources.
Research and Development Tax Credit
This credit is offered to businesses that engage in qualified research activities. It aims to encourage innovation and investment in research and development.
Low-Income Housing Tax Credit
This credit incentivizes the construction or rehabilitation of low-income housing properties.
Enable a return to profitability
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