Tax Credit for Hiring Long-Term Unemployed Workers

With many businesses facing a tight job market, employers should know about a valuable tax credit available to them for hiring long-term unemployment recipients and other groups of workers facing significant barriers to employment. If your business is hiring right...

Self-Employed Can Claim Sick & Family Leave Tax Credit

A new form is available for self-employed individuals to claim sick and family leave tax credits under the Families First Coronavirus Response Act (FFCRA). The FFCRA, passed in March 2020, allows eligible self-employed individuals who, due to COVID-19, are unable to...

Tax Credits for Electric Vehicles and Plug-in Hybrids

Tax credits are still available for Qualified Plug-in Electric Drive Motor Vehicles including passenger vehicles and light trucks. The credit applies to vehicles acquired after 12/31/2009, and is limited to $7,500. State and/or local incentives may also apply. The...

Form 8962: Reconciling the Premium Tax Credit

Form 8962, Premium Tax Credit, reconciles 2019 advance payments of the premium tax credit and may also affect a taxpayer’s ability to get advance payments of the premium tax credit or cost-sharing reductions. Taxpayers who don’t file and reconcile their...

Credit for Plug-in Electric Vehicles Winds Down

The tax credit available for purchasers of new General Motors plug-in electric vehicles begins phasing out on April 1, 2019. The phaseout was triggered because General Motors, LLC has sold more than 200,000 vehicles eligible for the plug-in electric drive motor...
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