Search Results for keywords:"tax credits"

Found 5 results
Skip to main content

Search Results: keywords:"tax credits"

  • Type:Notice
    Citation:90 FR 385
    Reading Time:about 2 minutes

    The Internal Revenue Service (IRS) is asking for public feedback regarding forms related to the qualified electric vehicle credit, which helps reduce paperwork and the burden on respondents in accordance with the Paperwork Reduction Act of 1995. Individuals, households, and businesses can submit comments until March 4, 2025. The IRS is also updating information on the use of Form 8834, which is used to claim this credit, and estimates about 3,136 respondents with a total annual paperwork burden of 15,022 hours. Comments will be part of the public record, and suggestions on improving the information collection process are welcomed.

    Simple Explanation

    The IRS wants to know what people think about the forms used to get a special tax credit for electric cars, and anyone can tell them what they think until March 4, 2025. They hope this will make it easier and less time-consuming for people using these forms.

  • Type:Presidential Document
    Citation:86 FR 6797
    Reading Time:about 2 minutes

    The proclamation by President Donald J. Trump designates January 24 to January 30, 2021, as National School Choice Week. It emphasizes the administration's commitment to educational reform by advocating for school choice, allowing families to choose the best educational settings for their children, regardless of economic status. The proclamation highlights the need for legislation to support educational freedom and scholarship programs, aiming to address educational inequity and provide equal opportunities for all students in the United States.

    Simple Explanation

    President Trump said there was a special week for choosing schools, from January 24 to January 30, 2021, where families could think about which school they wanted their kids to attend. He wanted to make it easier for everyone to pick the best school, even for families who don't have a lot of money, but how this would work was a little unclear.

  • Type:Notice
    Citation:86 FR 10432
    Reading Time:about 3 minutes

    The Internal Revenue Service (IRS) is inviting public comments on two forms related to self-employment taxes: Form 1040-PR and Form 1040-SS. These forms are used by self-employed individuals, including bona fide residents of Puerto Rico, to report their self-employment taxes and claim additional child tax credits. The IRS aims to gather feedback to minimize the paperwork burden and improve the forms. The public can submit their comments until April 20, 2021, and the agency is particularly receptive to suggestions on the necessity, accuracy, and ways to enhance the information collection process.

    Simple Explanation

    The IRS wants to hear people's thoughts on two tax forms that self-employed folks in Puerto Rico use to report their taxes. They're asking for ideas on how to make these forms easier to understand and complete.

  • Type:Notice
    Citation:90 FR 2677
    Reading Time:about 3 minutes

    The U.S. Department of Energy (DOE) is asking for public comments on a new plan to gather information about greenhouse gas emissions from electricity producers. This information will help producers apply for certain tax credits related to emissions. The DOE plans to collect this data with the help of National Laboratories and aims to keep the process efficient through automated methods. The deadline for submitting comments is March 14, 2025.

    Simple Explanation

    The Energy Department wants to find out how much pollution comes from making electricity so companies can earn special rewards. They're asking people to share their thoughts on this idea by March 14, 2025.

  • Type:Notice
    Citation:86 FR 10003
    Reading Time:about 2 minutes

    The Internal Revenue Service (IRS) is seeking public comments on Form 6765, which relates to the Credit for Increasing Research Activities. This request is part of an effort to reduce paperwork and make the process easier for individuals and businesses that use the form to report research-related tax credits. Comments from the public and other agencies are welcomed to ensure the form meets its purpose efficiently, and should be submitted by April 19, 2021. The form’s usage is governed by the Paperwork Reduction Act, and it helps verify the correctness of tax credits claimed for research activities.

    Simple Explanation

    The IRS wants people to tell them what they think about a form that helps with getting money back for doing research. They're asking for ideas on how to make the form easier to use, and you need to let them know by April 19, 2021.