The American Recovery and Reinvestment Act of 2009 (the February stimulus bill) includes a number of energy provisions, including §1121 (the Residential Energy Property Credit), which increases the energy tax credit for homeowners making energy efficient improvements to their existing homes. It increases the credit rate to 30 percent of all qualifying improvements and raises [...]

Credit or debit card convenience fees charged for paying federal individual income taxes electronically are deductible for those taxpayers who itemize. Credit card processors normally charge taxpayers a convenience fee when they use their credit or debit card to pay taxes.  Fees vary, but average about 2.5 percent of the tax payment.In reassessing a previous [...]

In an effort to assist taxpayers in understanding the new Making Work Pay Credit, the IRS has posted a number of questions and answers (Q&As) on its website. They are grouped into four categories: general issues, Form W-4, new withholding tables, and economic recovery payments.