How do I calculate the Child and Dependent Care Credit?

Changes to the credit for child and dependent care expenses for 2021. For 2021, the American Rescue Plan Act of 2021 (the ARP) increases the amount of the credit for child and dependent care expenses. It also makes the credit refundable for taxpayers that meet certain residency requirements, increases the percentage of employment-related expenses for qualifying care considered in calculating the [...]

Can I claim the adoption credit?

Adoption Credit. Beginning January 1, 1991, the reasonable medical and legal expenses paid or incurred by the taxpayer in connection with the adoption of a minor may be deducted as an adjustment to income. The term “medical expenses” include any medical and hospital expenses of the adoptee and the adoptee’s biological mother which are incident to the adoptee’s birth, and [...]

What organizations can I contribute to for Alabama?

Donation Check-Offs Alabama Senior Services Trust Fund This fund will assist in the support of programs for the aging in Alabama. If you wish to make a contribution to this program, enter a dollar amount. Alabama Arts Development Fund This fund provides for grants to tax exempt organizations or associations to encourage development of quality arts activities or cultural facilities in local [...]

What is the Additional Child Tax Credit?

What’s New Schedule 8812 (Form 1040) for 2021. The Schedule 8812 (Form 1040) and its instructions have been revised to be the single source for figuring and reporting the child tax credits and credit for other dependents. The instructions now include all applicable worksheets for figuring these credits. As a result, Pub. 972 will not be revised. For prior year versions of Pub. 972 go to [...]

How do I claim Credit for federal tax paid on fuels?

Purpose of Form Use Form 4136 to claim the following. • The biodiesel or renewable diesel mixture credit. • The alternative fuel credit. • A credit for certain nontaxable uses (or sales) of fuel during your income tax year. • A credit for blending a diesel-water fuel emulsion. • A credit for exporting dyed fuels or gasoline blendstocks. Attach Form 4136 to [...]