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Using Credits and Rebates on a Tax Return

Who qualifies for tax credits?

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Art Auerbach
Tax Director, Goodman & Company, LLP
http://www.goodmanco.com/  

Serving clients since 1932, Goodman & Company brings 75 years of knowledge and experience to the demands of today's ever-changing business environment. Throughout the past 75 years, we've never strayed from our mission-to provide each client with personal, high-quality service using the most up-to-date technology and resources.

Who qualifies for tax credits?

Basic information to prepare an individual income tax return, Form 1040 and the basic schedules. This video is designed for those individuals who want to undertake the preparation of their tax return. There are tips and pointers for those who have attempted this feat in prior years.

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Host: Who qualifies for tax credits?

Arthur Auerbach: Anybody who is eligible for any of the credits. Unfortunately there is no uniformity to this. What you need to do is look at each credit specifically to determine whether you are eligible. There is a really good publication that you can get for free from the Internal Revenue Service. Its publication 17. It's called Your Federal Income tax. Now you can get it online but I would not recommend it because it's about 200-250 pages so unless you want to tie up a printer for a considerable amount of time. If you call the IRS and tell them that you want this publication or you can buy it from a - or you can get it from the government printing office but everybody is entitled to one copy for free. And if you want to explore what the available credits are and what the eligibility rules are which is certainly more time than it takes than I have available here then that would be a publication I would recommend that you get. Pub. 17 called 'Your Federal Income Tax'.

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