News Flash

• Tax law- Additional child tax credit. A credit of up to $1,000 per child per year. The credit amount is calculated primarily in according to the income and also the number of children in the family.
• 2007 stimulus payment- In 2007 there was a special rebate of $300 for all American citizens that declared a minimum of earnings of about $3,000 annually. Whoever did not receive the rebate in 2007 is entitled to it in 2008 (now called the Recovery Rebate Credit (RRC)).
• The IRS has issued a new refundable credit called the Make Work Pay credit.  It affords $400 for each filer (primary and secondary), even in the case where one of them is a on-american filing with an ITIN.  Feel free to contact us for more explanation.
• The IRS is always investigating returns, including those filed from here in Israel, to make sure all American citizens who are filing do so with their accurate incomes.