Tax Credits
This credit, claimed using Form 8863, is available for postsecondary education but is non-refundable and has a lifetime limit.
What is the Lifetime Learning Credit?
This IRS form is used to report miscellaneous income not covered by other 1099 forms, such as prizes or legal settlements.
What is Form 1099-MISC?
This deduction allows teachers to deduct up to $300 of out-of-pocket classroom expenses.
What is the Educator Expense Deduction?
In this Southern state, this flashy accessory is subject to sales tax—even though the belt and cowboy boots you might pair it with are tax-free.
What is a belt buckle?
This person is credited with implementing the first sales tax, a 1% flat rate applied across the entire Roman Empire.
Who is Julius Caesar?
This credit phases out at higher income levels and helps low-income taxpayers save for retirement through contributions to IRAs or 401(k)s.
What is the Saver’s Credit?
Self-employed individuals use this schedule to report business income and expenses.
What is Schedule C (Form 1040)?
If you're self-employed and pay for your own medical insurance, you might qualify for this above-the-line deduction.
What is the self-employed health insurance deduction?
Though no longer enforced, a Missouri law from the 1820s still technically taxes men aged 21 to 50 if they have this marital status.
What is unmarried?
Which country artist released an album titled The IRS Tapes: Who'll Buy My Memories? to help pay off a substantial tax debt to the IRS?
Who is Willie Nelson?
This energy-related credit helps taxpayers who install solar panels or energy-efficient systems in their homes.
What is the Residential Energy Efficient Property Credit (or Energy Credit)?
This form is required if you sold stocks, mutual funds, or other capital assets during the year.
What is Form 8949?
This often overlooked deduction can be claimed for certain expenses incurred while moving for a military assignment.
What is the moving expenses deduction (available only for active-duty military)?
In what southwestern U.S. state are you exempt from filing and paying income taxes when you turn 100 years old?
What is New Mexico
The first ever deadline for filing your individual tax return was when.
What is March 1, 1913?
Taxpayers claiming foreign tax paid to another country may use this credit to avoid double taxation.
What is the Foreign Tax Credit?
Independent contractors and freelancers typically receive this form instead of a W-2.
What is Form 1099-NEC?
This Schedule A deduction is limited by the SALT cap and includes payments for local property and state income taxes.
What are state and local taxes (SALT deduction)?
This state still imposes an 18% “flood tax” on every bottle of alcohol sold, a law originally enacted to help rebuild Johnstown after the devastating 1936 flood.
What is Pennsylvania?
What famous arena has been exempt from New York property taxes since 1982?
What is Madison Square Garden?
This often-overlooked credit provides relief to those who must pay for long-term care insurance or caregiving services, under specific circumstances.
What is the Credit for Elderly or Disabled (or Long-Term Care Credit, in certain states)?
If you received advance payments of the Premium Tax Credit through the Health Insurance Marketplace, you must reconcile them using this form.
What is Form 8962?
This deduction, once broadly available, is now limited and only applies to unreimbursed expenses of Armed Forces reservists, performing artists, and fee-basis government officials.
What is the miscellaneous itemized deduction (for specific occupations)?
This New England state adds a touch of emotion to its income tax return with a frowny face next to the amount due and a smiley face by the amount overpaid.
What is Rhode Island?
What notorious mobster was thought to be locked up for murder, but actually was convicted of tax evasion and sentenced to 11 years in prison?
Who is Al Capone?