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The Tax Relief for American Families and Workers Act is a $78 billion package that would expand the Child Tax Credit (a tax benefit that provides money to parents), restore business tax breaks, increase federal funding for states to encourage the development of low-income housing, deepen economic ties between the United States and Taiwan and end a pandemic-era employer tax benefit.
As of the 2018 tax year, Form 1040, U.S. Individual Income Tax Return, is the only form used for personal (individual) federal income tax returns filed with the IRS. In prior years, it had been one of three forms (1040 [the "Long Form"], 1040A [the "Short Form"] and 1040EZ – see below for explanations of each) used for such returns.
The Hurricane Tax Relief Act is pending United States legislation introduced in 2023. Introduced by Florida legislators Rick Scott in the Senate and Byron Donalds in the House of Representatives, and generally supported by Republicans holding political office in Florida, the act seeks to reduce the amount of federal taxes that victims of hurricanes Ian and Nicole will have to pay and more ...
You can apply for Innocent Spouse Relief by sending Form 8857 and any supporting documents to the IRS. The request should be submitted within two years of the IRS’s initial collection attempt.
The Act created a limited privilege for taxpayers with respect to certain communications made between a taxpayer and a "federally authorized tax practitioner" in non-criminal proceedings. The Act allows for civil damages of up to $100,000 where an IRS office or employee negligently disregards the tax statutes or regulations.
Schedule SE – Self Employment Tax; Form 2441 – Child Care Expenses; Form 8863 – Education Credits; Form 1040NR; Most State Tax Forms; Returns with K-1 Income, fiduciary pass-through's only; Form 8889 & HSA's; Schedule R; Schedule C – Business Expenses with: A net loss exceeding $10,000; Deductions for depreciation; Deductions for ...