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What is the difference Between a Refundable and Non-refundable Tax Credit?
Contributed by: MatthewD, FreeTaxUSA Agent, Tax Pro To save energy costs, you did some upgrades to your house this year by upgrading your air conditioner, windows, and doors. When you filed your return, you applied for an energy-efficient home improvement credit. However, you did not see a significant refund and wondered…
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What if my 1099-K amount is wrong?
Contributed by: Daniel_L, FreeTaxUSA Agent Form 1099-K Form 1099-K reports electronic payments received for goods or services through credit cards, debit cards, or any other third-party payment network like Square, Venmo, or PayPal. The 1099-K “filer” or issuer records these transactions. When the threshold is met by…
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Why can’t I get all the child tax credit in my refund?
Contributed by: PhillipB, FreeTaxUSA Agent, Tax Pro You may remember during the pandemic getting a massive $3,000 to $3,600 per child refundable child tax credit that was paid throughout the year – that was nice, wasn’t it? However, now you may be wondering why you never see anywhere near the $2,000 per child tax credit in…
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Basics of navigating the FreeTaxUSA software
Contributed by: AndreaS, FreeTaxUSA Agent, Tax Pro You’ve started an account in FreeTaxUSA but are a little uncertain about how our software works. No worries, here’s some tips and tricks so you can navigate through the software like a pro. How does it work? Our software works like an interview; it will ask you some basic…
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I received a 1099-NEC, but I don’t think I am self-employed
Contributed by: MatthewD, FreeTaxUSA Agent, Tax Pro January rolls around, and you're patiently waiting to receive tax forms in the mail. Slowly, the regular forms come, such as the W-2, 1099-INT, and 1098 for mortgage interest. Then a Form 1099-NEC arrives in the mail. What is this form about? An inspection shows it was…