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How to Use the Foreign Tax Credit to Offset AMT
The foreign tax credit can help mitigate the impact of the alternative minimum tax (AMT) for taxpayers with income taxed abroad. While the AMT limits certain deductions and credits, it does allow a ...
Some EV tax credits risk being rejected by IRS on 2024 returns for long list of reasons
The EV tax credit saw a major revamp in 2024, which enabled some buyers to benefit at the point of sale. But some tax ...
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Which Electric Cars Are Still Eligible for the $7,500 Federal Tax Credit?
The EV tax credit was overhauled in 2022 with new rules for buyer eligibility as well as battery sourcing. The complex battery requirements — aimed to lessen dependence on foreign sourcing of ...