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Medicaid makes waiver payments to those who care for disabled individuals and thus saves the government from caring for these individuals in more expensive institutions. These payments can be excluded from taxable income In addition, these payments, even though excluded from income are treated as earned income for purposes of claiming the earned income tax credit if the caregiver is otherwise qualified.

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The first thing you should do to get back on track with your taxes involves checking on the current status of your account with the IRS. Learn more.

Haven't Filed Tax Returns for Multiple Years? Here's What You Need to Do Next The first thing you should do to get back on track with your taxes involves checking on the current status of your account with the IRS.

Beginning in 2023 the Home Energy Improvement Tax Credit offers a meaningful incentive for taxpayers to make energy-saving improvements to their homes, providing a tax credit of 30% of the cost of eligible expenses and an annual credit of $1,200.

Home Energy Improvement Credit Is Enhanced This credit goes all the way back to 2006, providing a tax credit for making energy-saving improvements to a taxpayer’s home. This tax benefit was supposed to expire after 2021 but a law change has given the credit renewed life and substantially enhanced it beginning with 2023.