IRS Releases New Requirements to Claim the Earned Income Tax Credit

Recently, the IRS released new requirements for taxpayers to be eligible to claim and take advantage of the Earned Income Tax Credit (EITC). The online and interactive EITC Assistant has been upgraded to assist you in determining whether you qualify … read more

Don’t Miss Out on Taking Your 2013 Arizona State Tax Credits!

If you are an Arizona resident, you may want to take advantage of the following Arizona tax credits which are a dollar for dollar reduction in Arizona tax.  Among the numerous credits available to Arizona residents are:    1. Credit for Contributions to … read more

Changes in Arizona to §529 Plan Deductions and Charitable Donation Credits

The Arizona legislature is out of session – but not before they made some favorable changes – if you are an individual taxpayer! Beginning September 13, 2013 and retroactively effective to December 31, 2012, Arizona taxpayers with §529 college savings … read more

Tax Credit for Your Retirement (The Saver’s Credit)

It is never too early to start planning for your 2013 tax return – even though you may have just filed your tax return for 2012! Saving for your retirement can make you eligible for a tax credit worth up … read more

Get Credit for Making Your Home Energy-Efficient

If you made your home more energy efficient last year, you may qualify for a tax credit on your federal income tax return. Here is some basic information about home energy credits that you should know. If you have procrastinated … read more

New Market Credits

With the passage of the American Taxpayer Relief Act of 2012, the government extended the new markets tax credit which is available for investments made in entities involved in development in low- and moderate-income areas throughout the United States, Puerto … read more

Claiming the Child and Dependent Care Tax Credit

The Child and Dependent Care Credit can help offset some of the costs you pay for the care of your child, a dependent or a spouse. Here are 10 facts the IRS wants you to know about the tax credit … read more

Parents and Students: Check Out College Tax Benefits

In general, the American opportunity tax credit, lifetime learning credit and tuition and fees deduction are available to taxpayers who pay qualifying expenses for an eligible student. Eligible students include the primary taxpayer, the taxpayer’s spouse or a dependent of … read more

Fueling Up on Tax Credits

Frivolous tax arguments sometimes target very specific types of tax credits.  One such fraudulent tax scheme involves the fuels tax credit.  Proponents of this scheme assert that taxpayers can claim the section 6421 fuels tax credit without regard to whether … read more

Credit for Employee Cash Tips

If you work in the restaurant industry you may qualify for a credit regarding the Social Security taxes you pay on your employees’ tip income. This credit relates to the Social Security taxes you pay on an employee’s cash tip … read more


There is nothing more complex than the world of taxes. We know this and yet we chose careers where we face these issues everyday. We get questions day in and day out about new tax laws, forms and news items and how they affect everyday people and businesses. Well, here at Henry & Horne, LLP we have set out to do what we do best; help everyday people understand what is going on in the world of state, local, federal, estate and international taxation. We will provide these weekly posts and we encourage you to give us feedback on those posts as well as letting us know what else you would like to know more about. Welcome to "Tax Insights." We hope you find this blog informative and worthy of your time.

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