Make energy efficient home improvements? You may be eligible to take advantage of the Residential Clean Energy Credit, which increased from 26% to 30% of qualified purchases such as solar energy panels and solar water panels (for items bought between Jan.They were previously scheduled to expire after 2022. Note The Inflation Reduction act extends PTC provisions until 2025. Those eligible can receive larger credits due to the lower premiums that households must contribute (now between 0-8.5% of their income). The temporary law expands eligibility to those with a household income above 400% of the federal poverty level. Buy healthcare coverage from the ACA marketplace ()? A temporary rule change lets more people take the Premium Tax Credit (PTC) and receive a larger credit when they do.

However, the IRS has announced a delay to that 1099-K rule change and the 2021 thresholds amounts will generally apply for taxy year 2022.