nonrefundable tax credit

Individual | Taxes From A to Z®

Taxes From A To Z (2015): N Is For Nonrefundable Tax Credits
ByKelly Phillips Erb March 25, 2015

It’s my annual “Taxes from A to Z” series! Next up: N is for nonrefundable tax credits A credit is a dollar for dollar reduction in the amount of tax you owe. There are two types of tax credits: A refundable tax credit can reduce your tax liability below zero. If the amount of the…

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Individual | Tax policy

A Simple Solution For Reducing Taxpayer Fraud
ByKelly Phillips Erb May 26, 2012June 16, 2020

Some of the best ideas are the most simple. This dawned on me while chatting with a fellow tax pro at a recent networking event (okay, it was a cocktail party, same thing). The two of us spent a few minutes talking about tax fraud and the child tax credit (yes, that’s what tax professionals…

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