The Internal Revenue Service said Friday it’s ready to process tax year 2017 returns claiming four additional tax benefits recently renewed retroactively into law, including tax breaks related to energy conservation and production.
The Internal Revenue Service is beginning to release tax refunds for taxpayers who claim the Earned Income Tax Credit or the Additional Child Tax Credit after subjecting their tax returns to some extra scrutiny.
Democrats counting on an angry, anti-Trump vibe to propel them to victory in November’s congressional elections may be in for a surprise as voters begin to see the effects of last year’s tax overhaul in their paychecks.
Oil companies that have claimed more than a billion dollars in tax credits for burying carbon dioxide underground just got a windfall from Congress, which expanded that incentive as part of the government spending bill signed into law on Friday.
The Internal Revenue Service generally did a good job last season creating processes to handle some of the new provisions affecting tax season, according to a government report, but there were a few areas where it could be improved.