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Taxable Assistance: Certain forms of aid, such as scholarships or grants not specifically designated for disaster relief, may be subject to taxation. Reviewing the terms of each grant is essential ...
The Internal Revenue Service has announced that IRS Free File will begin accepting individual tax returns as of Jan. 10, 2025, for the 2024 tax season.
In order to be eligible, residents must: have filed their 2020 tax return by Oct. 15, 2021; meet the California adjusted gross income (CA AGI) limits described; not have been eligible to be ...
VITA was founded in 1971 by Gary Iskowitz at California State University, Northridge. Since the 1970s the program has grown to several thousand sites nationwide, partnering with non-profit organizations, local municipalities, and colleges and universities. In Tax Year 2015, 3.7 million VITA tax returns were filed with a 94% accuracy rate.
Most recently, the New Markets Tax Credit program was extended as part of Section 733 of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010. [11] The NMTC program expired on December 31, 2011, along with several dozen of the so-called "tax extenders". [12]
Some states have issued stimulus relief checks, such as California's Middle Class Tax Refund (MCTR) payment. But whether these are taxable or not is unclear and is creating a lot of confusion,...
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