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Revision as of 05:11, 2 October 2024
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Now, let's wait and watch if we can whittle made that first move some better. How about using some relevant tax credits? Since two of your kids are in college, let's assume that one costs you $15 thousand in tuition. You have a tax credit called the Lifetime Learning Tax Credit -- worth up to two thousand dollars in instance. Also, your other child may qualify for something known as Hope Tax Credit of $1,500. Physician tax professional for essentially the most current tips about these two tax credit. But assuming you qualify, that will reduce your bottom line tax liability by $3500. Since you owed 3200 dollars, your tax is starting to become zero dollars.
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Identity Theft/Phishing. This isn't so much a tax reduction scam as a nightmare wherein identity thieves try purchase information from taxpayers by acting as IRS brokers. Often they send out email as though they come from the Interest rates. The IRS never sends emails to taxpayers, so don't respond to these transfer pricing emails. If you aren't sure, call the IRS and request if could possibly problem. Might reach the government at 800-829-1040.
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