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See which tax credits you qualify for

See which tax credits you qualify for
Bankrate
1/9/2021
© adamkaz/Getty Images
A neighborhood in southern California where many homes have solar panels installed
When it comes to saving money on your taxes, tax credits are one of the most valuable available methods. Tax credits are subtracted dollar for dollar directly from the amount of tax you owe the IRS.
These credits are incentives that the government gives for behaviors or actions that they deem beneficial, like taking care of dependents, buying an environmentally friendly electric car or earning an income.
How tax credits work
Tax credits, as opposed to tax deductions, are subtracted directly from the tax you owe, helping you cut down your overall tax bill. Tax deductions simply lower your taxable income. ....

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Climate Policy in the End-of-Year Legislative Package

Climate Policy in the End-of-Year Legislative Package
Tuesday, December 29, 2020
Late Sunday, President Trump signed into law H.R. 133, the legislative package containing Coronavirus relief, the Fiscal Year 2021 Omnibus bill, and the Energy Act of 2020 the largest energy package to be enacted into law in over a decade. This sweeping legislation, nicknamed the “Coronabus,” contains a number of climate-related provisions, including those outlined below.
Hydroflurocarbons Phasedown
The package includes a compromise deal to wind down hydrofluorocarbons (HFCs) over a 15-year period, under a program administered by the United States Environmental Protection Agency (EPA). This is the first legislation mandating a national phasedown of HFCs, although the EPA has overseen similar programs for other greenhouse gas emissions. The bill requires a reduction of HFC production and consumption to approximately 15 percent of their 2011-2013 level by 2036, and ....

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