Oregon Tax Credits Blog

Archive for the ‘Tax Credits 2010’ Category

1. COBRA – Taxpayers who lost their jobs between Sept 2008 and May of 2010 may qualify for reduced health insurance premiums.

2. Education benefits – the American Opportunity Credit (changes)

3. Home buyer Credit – Credit up to $8,000 – Must provide documentation – First Time Home buyer Program (stipulations)

4. Additional child tax credit – More people will qualify

5. Making Work Pay Tax Credit – More take home pay for taxpayers

6. $250 for Social Security Recipients, Veterans and Railroad Retirees – Call 1 866-234-2942 to see if you qualify

7. Rebate on New Vehicles

8. Increase in Transportation Subsidy

9. $2,400 Unemployment Benefits, not taxable

10. Health Care Tax Credit – increase to 80 % of qualified health care insurance payments

(The complete detailed list can be found at IRS.gov)

The IRS says it will start to process tax returns on February 14, which are delayed due to recent changes in tax laws and credits.

Schedule A is the is the problem Form for this year, (2010) due to last minute changes in the tax code late last year. The changes must be “incorporated by the IRS Computer”

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