The Internal Revenue Code Section 25C credit, also known as the Energy Efficient Home Improvement Credit, is a valuable tax incentive for homeowners who make qualifying energy-saving improvements to their existing homes. This credit has undergone several modifications since its inception in 2006, with significant changes introduced by the Inflation Reduction Act (IR Act). Don’t… [Read More]
IRS Extends Deadlines for Helene Victims
Individuals and businesses in seven states affected by Hurricane Helene will have until May 1, 2025, to file returns and make payments. The relief is offered to all taxpayers of Alabama, Georgia, North and South Carolina. This also applies to 41 counties in Florida, 8 counties in Tennessee, in six counties and 1 city in… [Read More]
How long should I save my tax records after tax season?
I get this question all the time. My answer simply is this. It depends. People generally save their tax records because they are afraid of being audited. Another reason people save their records is with regards to maintaining their records of their capital assets such as investments in stocks and mutual funds or depreciating assets… [Read More]