What Is The General Business Credit?
The general business credit is the sum of a number of individual tax credits. The general business credit was established by Congress to encourage particular social or economic objectives, such as promoting increased investment in disadvantaged communities.
The general business credit includes the credits listed on Form 3800, the empowerment zone and renewal community employment credit, and the New York Liberty Zone employee credit. The individual credits listed on Form 3800 also require their own forms.
Who Must File Form 3800
You generally must file Form 3800 if:
- You're claiming more than one of the credits listed on Form 3800
- Any of those credits (other than the low-income housing credit) is from a passive activity
- Any of those credits has a carryforward or carryback
Carryforwards and Carrybacks
If, because of limits that are imposed, there is an unused portion of any of the credits that allow a carryforward or carryback, carry the unused portion back one year. If you still have an unused portion, you can carry it forward for up to 20 years. If there is still an unused portion, you may take it as a deduction.
Credit Ordering Rule
The order in which any of the credits can be used in a given tax year is as follows:
- Carryforwards, the earliest ones first
- The current year credit
The individual credits that make up the general business credit are taken in the order in which they are listed on Form 3800 (also the order in which they appear in this article).
Form 3800 Credits
Investment Credit (Form 3468)
The investment tax credit, claimed on Form 3468, consists of the rehabilitation credit, the energy credit, the qualifying advanced coal project credit, the qualifying gasification project credit, and the qualifying energy project credit.
Caution: A business can't claim both the energy credit and the renewable electricity production credit (see below) in the same taxable year.
The rehabilitation credit is for expenses incurred in rehabilitating certain older buildings. Generally, the credit is for 20 percent of those expenses that you incur to rehabilitate a certified historic structure for either residential or nonresidential use. Prior to 2018, if you rehabilitated a qualified building other than a certified historic structure for nonresidential use, you could take a credit of 10 percent of the qualified expenses.
The energy credit is determined as a percentage of the cost of new qualifying solar equipment, geothermal equipment, fuel cell and microturbine powerplants, small wind property, and combined heat and power property. The credit percentage is 30 percent or qualifying solar energy property, qualified fuel cell power plants, and small wind property placed in service prior to January 1, The credit percentage is generally 10 percent for qualifying stationary microturbine power plants, geothermal heat pump property, and combined heat and power property placed in service prior to January 1, 2022.
The qualifying advanced coal project credit, the qualifying gasification project credit, and the qualifying energy project credit are available to those who applied for and received certification that their projects meet the relevant requirements under the provisions for these credits.
Work Opportunity Credit (Form 5884)
The purpose of the work opportunity credit, claimed on Form 5884, is to encourage businesses to hire persons from certain disadvantaged groups (referred to as targeted groups) prone to high unemployment rates. Targeted groups include:
- Families eligible to receive benefits under the Temporary Assistance to Needy Families (TANF) Program • Designated community residents (formerly called high-risk youth)
- Qualified ex-felons
- Vocational rehabilitation referrals
- Qualified summer youth employees
- Qualified veterans
- Families receiving food stamps
- Certain Supplemental Security Income (SSI) benefit recipients
- Long-term family assistance recipients
- Long-term unemployment recipients
Generally, the credit equals 40 percent of qualified wages paid during the one-year period beginning the day after the individual started work for the employer (i.e., new hires only). For employment of less than 400 hours (but at least 120 hours), the credit equals 25 percent of wages. The maximum credit per employee is $2,400 (40 percent of the first $6,000 of qualified first-year wages). For employees working fewer than 400 hours but at least 120, the maximum credit is $1,500 per employee.
Tip: In the case of long-term family assistance recipients, the credit equals 40 percent (25 percent for employment of 400 hours or less) of $10,000 for qualified first-year wages and 50 percent of the first $10,000 of qualified second-year wages.
This credit applies to wages paid to (or accrued for) qualified employees who begin work before January 1, 2021.
Alcohol Fuels Credit (Form 6478)
The credit for alcohol used as a fuel, claimed on Form 6478, applies to certain types of alcohol you sold or used as fuel. For purposes of this credit, eligible alcohol includes ethanol and methanol, but does not include alcohol produced from petroleum, natural gas, coal, or peat. The amount of the credit is based on "cents per gallon" used or sold and depends on the type of alcohol fuel employed. Alcohol of less than 150 proof does not qualify for the credit.
Research Expense Credit (Form 6765)
The credit for increasing research activities, claimed on Form 6765, is designed to encourage businesses to increase the amounts they spend on research and experimental activities. It also includes payments to universities for contract research. The research must be undertaken to discover information that is technological in nature and intended to be useful in the development of a new or improved business component. Further, the research must relate to a new or improved function, performance, reliability, or quality. The credit amount is generally 20 percent of qualifying expenses that exceed a specified base amount. (The base amount is computed based on the taxpayer's prior qualified expenditures and gross receipts.) This credit has been made permanent.
Caution: Special tests apply to research costs of software developed for the taxpayer's internal use.
Tip: The Energy Tax Incentives Act of 2005 modified the research expense credit to include qualified energy research undertaken by an energy research consortium. This modification is effective for taxable years beginning after August 8, 2005.
Tip: For tax years ending after March 31, 2008, businesses otherwise eligible for bonus depreciation are allowed to instead elect to claim additional research or AMT tax credits for qualified property placed into service after March 31, 2008. The amount of the refundable credit that can be claimed is equal to the lesser of: (1) 20 percent of the additional depreciation that would result from applying the bonus depreciation rules to otherwise bonus-eligible property acquired (or costs incurred in the case of self-constructed property), (2) 6 percent of the taxpayer's accumulated minimum tax and research credit carryovers that are attributable to taxable years beginning before 2006, or (3) $30 million. The election is available for the taxpayer's first taxable year that ends after March 31, 2008. Taxpayers making the election must use the straight line method with respect to property that would otherwise be eligible for bonus depreciation.
Tip: Starting in 2016, the research credit is allowed against alternative minimum tax for certain eligible small businesses
Tip: Starting in 2016, certain startup companies can claim a portion of the research credit against the payroll (FICA) tax.
Low-Income Housing Credit (Form 8586)
The low-income housing credit is available for certain low-income housing units bought, built, or rehabilitated after 1986. The housing project must have a certain percentage of units occupied by low-income tenants.
State and local housing credit agencies authorize and monitor eligibility of low-income housing projects. The amount of the credit is based on a percentage of the housing project's eligible basis and is taken over a 10-year period. If the project isn't federally subsidized, a 70 percent rate is used to calculate the maximum credit for new construction or rehabilitation. If the project is federally subsidized or is a rehabilitation of an existing building, a 30 percent rate is used. This latter rate also applies to the purchase of existing housing.
To receive the credit authorization, you must enter into a binding contract with the local housing credit agency, agreeing to maintain the units as low-income housing for at least 30 years. The units must actually maintain low-income status for at least 15 years; otherwise, a portion of the credit you have already taken may have to be recaptured. To claim this credit, file Form 8586, along with a copy of Form 8609 filled out by the state or local housing credit agency.
Tip: Under the Gulf Opportunity Zone Act of 2005, buildings in the Gulf Opportunity (GO) Zone, Rita GO Zone, and Wilma GO Zone are eligible for an enhanced low-income housing credit. Under the enhanced credit, the 70 percent rate and the 30 percent rate are increased to 91 percent and 39 percent, respectively. This provision is effective for buildings placed in service during 2006, 2007, and 2008. The Small Business and Work Opportunity Act of 2007 extended this provision through 2010.
Disabled Access Credit (Form 8826)
To encourage small businesses to comply with the Americans with Disabilities Act of 1990, a tax credit is provided for expenses incurred in making a business accessible to disabled individuals. You can claim a credit of 50 percent of your business's eligible expenses in excess $250 but less than $10,250. The maximum amount of the credit for any tax year is $5,000 (50 percent of ($10,250 minus $250)).
Your business can claim the credit if, in the previous tax year, it had gross receipts of less than $1 million or not more than 30 full-time employees. You claim the credit on Form 8826.
Tip: In addition to the tax credit, your business can take a current tax deduction of up to $15,000 per year for expenses incurred in removing qualified architectural and transportation barriers. However, you can't claim a deduction and a credit for the same expense.
Renewable Electricity Production Credit (Form 8835, Section A)
If you produce and sell electricity from renewable resources such as wind or biomass (plant matter), you may be able to take this credit. Based on the amount of kilowatt-hours of electricity produced from these resources and sold to unrelated persons, this credit is available during the 10-year period after the generating facility is placed in service. Generally, the credit is 1.9 cents per kilowatt-hour (adjusted for inflation). Generally, qualified facilities must be placed in service before January 1, 2021 (before January 1, 2021, for wind facilities). Facilities that produce electricity from poultry waste are also eligible for this credit.
Caution: A business can't claim both the renewable electricity production credit and the energy credit in the same taxable year.
You use Form 8835 to claim this credit.
Indian Employment Credit (Form 8845)
The Indian employment credit, claimed on Form 8845, is available to certain business owners for wages and health insurance costs paid to or incurred for an enrolled Native American tribe member (or spouse) for services performed within an Indian reservation. The qualified employee must have his or her principal residence on or near the reservation and be employed in an activity other than gambling. The amount of wages a qualified employee can receive is limited.
This credit applies to the part of the qualified wages and health insurance costs (up to $20,000 per employee) you paid or incurred during a tax year that is greater than the sum of the comparable costs you paid during calendar year 1993. The credit is equal to 20 percent of this excess amount. Several requirements apply.
This credit expires on December 31, 2020.
FICA Tip Credit (Form 8846)
If your business is a food and beverage establishment, you may claim a credit for the employer portion of FICA (i.e., Social Security and Medicare taxes) you paid on certain employee tips. As long as tipping your employees is customary, this credit is valid whether the food is consumed on or off your business premises. It's also available whether or not the employee for whom you take the credit reported the tips to the IRS.
Technical Note: If you pay an hourly wage below the federal minimum wage, though, you may not take a credit on the amount of tips necessary to bring the employee's hourly wage up to the minimum wage.
Tip: The Small Business and Work Opportunity Tax Act of 2007 increased the minimum wage. However, the FICA tip calculation ignores this increase and will continue to use the old minimum wage of $5.15 per hour.
You claim the credit on Form 8846.
Caution: You may not take a deduction for the amount you claim as a credit.
Orphan Drug Credit (Form 8820)
The orphan drug credit, claimed on Form 8820, is for qualified expenses incurred during the testing of certain drugs for rare diseases or conditions. The credit equals 50 percent of the expenses of human clinical tests allowed under the Federal Food, Drug, and Cosmetic Act.
New Markets Credit (Form 8874)
The new markets credit, claimed on Form 8874, exists for investments made to acquire stock in a community development entity (CDE). A CDE is a domestic corporation or partnership whose primary mission is serving or providing investment capital for low-income persons or communities. A CDE must be accountable to the residents of the low-income communities, and must be certified by the Treasury Department.
Unlike community renewal and empowerment zone tax breaks, the new markets credit may be taken directly by passive investors as well as by active businesses. The investor is allowed a 5 percent credit for the year in which the equity interest (e.g., stock) is purchased from the CDE and for the first two anniversary dates after the purchase. The investor is also entitled to a 6 percent credit on each anniversary date thereafter for the next four years. As a result, the credit totals 39 percent of your investment over a seven-year period.
The new markets credit is currently available through 2020.
Small Employer Pension Plan Start-Up Credit (Form 8881)
If you're an employer who begins a new pension plan for your employees, you may be eligible to receive a tax credit of 50 percent of the qualified start-up costs of the plan, with a credit of between $500 and $5,000, depending on the number of employees. An eligible employer is one that had 100 or fewer employees who received at least $5,000 of compensation during the previous tax year. Types of plans eligible for this credit include defined benefit and defined contribution plans (including 401(k) plans), SIMPLE plans, and simplified employee pensions. The credit, claimed on Form 8881, is available for each of the first three years of a plan established after 2001.
Qualified start-up costs are any ordinary and necessary expenses you pay to:
- Begin or administer an eligible employer plan, or
- Educate your employees about the plan
Caution: You can't carry back unused portions of this credit to tax years beginning before 2002. Also, you can't deduct that portion of the qualified start-up costs you paid or incurred during the year that is equal to the credit you take for that year.
Credit for Employer-Provided Child Care (Form 8882)
You can receive a tax credit of 25 percent of the qualified expenses you paid for employee child care, and 10 percent of the qualified expenses you paid for child-care resource and referral services. This credit, claimed on Form 8882, cannot exceed $150,000 per year, and several requirements apply.
Expenses that qualify for this credit include the following:
- Expenses to acquire, construct, rehabilitate, or expand depreciable property for use as a qualified child-care facility
- Expenses to operate a qualified child-care facility
- Expenses paid to a qualified child-care facility under contract to provide child-care services to your employees
Biodiesel Fuels Credit (Form 8864)
The American Jobs Creation Act of 2004 created a credit for biodiesel fuels, which is a combination of the biodiesel mixture credit and the biodiesel credit:
- Biodiesel Mixture Credit — The taxpayer may claim a credit of 50 cents ($1 for fuel produced and sold or used on or after January 1, 2009) for each gallon of biodiesel fuel utilized when producing a qualified biodiesel mixture to be used or sold in the taxpayer's trade or business.
- Biodiesel Credit — The taxpayer may claim a credit of 50 cents ($1 for fuel produced and sold or used on or after January 1, 2009) for each gallon of biodiesel fuel that is not in a mixture with diesel fuel. The biodiesel fuel must be used or sold in the taxpayer's trade or business.
Tip: In the case of agri-biodiesel fuels, both credits were increased to $1 for each gallon for fuel produced and sold or used prior to January 1, 2009.
Biodiesel fuels are a mixture of animal fats or vegetable oils, and diesel. Agri-biodiesel fuels are a type of biodiesel mixture derived from virgin vegetable oils and animal fats. The taxpayer must obtain certification specifying the percentage of biodiesel and agri-biodiesel in the product. The credit, claimed on Form 8864, applies to fuels produced, and used or sold, after December 31, 2004 and expires December 31, 2022.
Tip: The Energy Tax Incentives Act of 2005 added a small agri-biodiesel fuel producer credit to the biodiesel fuels credit. The credit is 10 cents per gallon for up to 15 million gallons of agri-biodiesel fuel produced by small producers. Small producers are defined as persons with a production capacity that does not exceed 60 million gallons a year. This credit is available for tax years ending on or after August 8, 2005 and before January 1, 2023.
Low Sulfur Diesel Fuel Production Credit (Form 8896)
The American Jobs Creation Act of 2004 created a credit for the production of low sulfur diesel fuel. The credit is generally five cents for every gallon of low sulfur diesel fuel produced by a qualified small business during the tax year. The credit is allowed for expenses paid or incurred after 2002. The credit cannot be carried back to a tax year ending before 2003. You claim this credit on Form 8896.
Community Development Corporation (CDC) Credit (Form 8847)
CDCs provide employment and business opportunities to low-income individuals. To encourage taxpayers to make gifts or long-term loans to CDCs, a tax credit was created. You can claim this credit for qualified cash contributions (including loans and investments) you made to CDCs in selected geographic areas. The tax credit equals 5 percent of the amount you contributed, and you can claim it for each of 10 years beginning with the year you made the contribution. As a result, you can claim a total of 50 percent of your contribution during the 10-year credit period.
Nuclear Power Production Credit
The Energy Tax Incentives Act of 2005 created a credit for the production of electricity at a qualifying advanced nuclear power facility. The credit is generally 1.8 cents (indexed for inflation) per kilowatt hour of electricity produced over an 8-year period starting when the facility is placed in service. A taxpayer can claim no more than $125 million in tax credits per 1,000 megawatts of allocated capacity in any one taxable year of the 8-year period. Other limits may apply to certain producers.
An advanced nuclear facility is any nuclear facility for the production of electricity, the reactor design for which was approved after 1993 by the Nuclear Regulatory Commission. This credit applies to electricity produced in taxable years beginning after August 8, 2005 and before January 1, 2021.
Clean-Fuel Vehicle Refueling Property Credit (Form 8911)
The Energy Tax Incentives Act of 2005 created a 30 percent credit for the cost of installing clean-fuel vehicle refueling property to be used in a trade or business of the taxpayer (up to $30,000) or installed at the principal residence of the taxpayer (up to $1,000).
Clean fuels are any fuels at least 85 percent of the volume of which consists of ethanol, natural gas, compressed natural gas, liquefied natural gas, or hydrogen and any mixture of diesel fuel and biodiesel fuel containing at least 20 percent biodiesel. This credit is effective for property placed in service after December 31, 2005 and before January 1, 2020). Any unused credit can be carried forward for 20 years.
Tip: For business property placed in service in 2009 or 2010, the American Recovery and Reinvestment Act of 2009 increased the maximum credit available for business property from $30,000 to $200,000 for qualified hydrogen refueling property and to $50,000 for other qualified refueling property. In addition, the credit rate was increased from 30 percent to 50 percent, except in the case of hydrogen refueling property. The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 extends the credit at 30 percent for 2011, with a maximum credit of $30,000,
Energy-Efficient New Home Construction Credit (Form 8908)
The Energy Tax Incentives Act of 2005 created a $2,000 credit to eligible contractors and manufacturers of qualified new energy-efficient single-family homes. To qualify as an energy-efficient home, it must be:
- A dwelling located in the United States
- Substantially completed after December 31, 2005
- Certified to have a projected level of annual heating and cooling energy consumption that meets the standards for a 50 percent reduction in energy usage, compared to a comparable dwelling that meets the standards of the 2003 International Energy Conservation Code
Manufactured homes may be eligible for a $1,000 credit if the home is:
- Located in the United States
- Substantially completed after December 31, 2005
- Certified to have a projected level of annual heating and cooling energy consumption that meets the standards for a 30 percent reduction in energy usage, compared to a comparable dwelling that meets the standards of the 2003 International Energy Conservation Code This credit applies to homes substantially completed after December 31, 2005, and purchased after December 31, 2005 and before January 1, 2021.
Caution: This credit can't be carried back to any taxable year ending on or before January 1, 2006.
Energy-Efficient Home Appliance Production Credit
The Energy Tax Incentives Act of 2005 created a credit for the eligible production of certain energy-efficient dishwashers, clothes washers, and refrigerators. The credit ranges from $50 to $225 in 2012 and 2013 ($25 to $225 in 2011,) for each appliance. Manufacturers can generally claim up to $25 million in credits for all taxable years from 2011 to 2013. Other limits apply. This credit is available for certain appliances produced after December 31, 2005 and before January 1, 2014.
Alternative Motor Vehicle Credit (Form 8910)
The Energy Tax Incentives Act of 2005 created this tax credit, which is actually a combination of four credits: (1) the hybrid vehicle credit, (2) the advanced lean-burn technology vehicle credit, (3) the alternative fuel (or clean-fuel) vehicle credit, and (4) the credit for vehicles powered by fuel cells. The amount of the credit depends on many factors. The credit for vehicles powered by fuel cells is available through 2020; the other credits are not available after 2010.
Caution: Only the portion of the credit attributable to property subject to depreciation (i.e., used in a trade or business) is treated as part of the general business credit. The remainder of the credit is allowable as a personal tax credit.
Plug-In Electric Drive Motor Vehicle Credit
A credit is available for new qualified plug-in electric drive motor vehicles placed in service after December 31, 2008. For vehicles acquired in 2009, the maximum amount of the credit depends upon the vehicle weight. For qualifying vehicles acquired after December 31, 2009, the maximum amount of credit is $7,500 regardless of vehicle weight. The credit will begin to phase out after 200,000 vehicles have been sold.
For property placed in service after February 17, 2009, a separate 10 percent credit (maximum $2,500) applies to qualifying low-speed vehicles, motorcycles, and three-wheeled vehicles. A separate 10 percent credit (up to a maximum $4,000) is also available for the cost of converting any motor vehicle into a qualified plug-in electric drive motor vehicle after February 17, 2009.
Tip: The credits for qualifying low-speed vehicles, motorcycles, and three-wheeled vehicles and conversions is available through The credit is available for certain electric motorcycles acquired in 2015 through 2020.
Caution: Only the portion of the credit attributable to property subject to depreciation (i.e., used in a trade or business) is treated as part of the general business credit. The remainder of the credit is allowable as a personal tax credit.
Distilled Spirits Wholesalers Credit (Form 8906)
The Safe, Accountable, Flexible, Efficient Transportation Equity Act of 2005 created a credit for the average carrying costs of the excise tax on distilled spirits. This credit is available to importers, wholesalers, and distillers. The credit is for tax years beginning after September 30, 2005.
Agricultural Chemicals Securities Credit
The Food, Conservation, and Energy Act of 2008 (otherwise known as the Farm bill) created a new general business credit category under which an "eligible agricultural business" can take a 30 percent credit for "qualified chemical security expenditures" for the tax year. This credit is limited to $100,000 per facility, reduced by the aggregate amount of the credits allowed for the facility in the preceding five tax years. This credit is also limited to $2 million per taxpayer per tax year. The credit is available for amounts paid or incurred after May 22, 2008 and before January 1, 2013.
Differential Wage Payment Credit
The Heroes Earnings Assistance and Relief Tax Act of 2008 (the HEART, or "Heroes" Act) created a new credit for qualified differential wage payments. The credit is equal to 20 percent of the sum of the eligible differential wage payments made by an eligible small business employer in the taxable year, and is available for amounts paid after June 17, 2008. Starting in 2016, the credit is available to employers of any size.
A differential wage payment is any payment which: (1) is made by an employer to an individual with respect to any period during which the individual is performing service in the uniformed services of the United States while on active duty for a period of more than 30 days; and (2) represents all or a portion of the wages that the individual would have received from the employer if the individual were performing services for the employer.
The term eligible differential wage payments means so much of the differential wage payments paid to a qualified employee as does not exceed $20,000. An eligible small business employer means, with respect to a taxable year, any taxpayer which: (1) employed on average less than 50 employees on business days during the taxable year; and (2) under a written plan of the taxpayer, provides eligible differential wage payments to every qualified employee of the taxpayer.
Caution: No deduction may be taken for that portion of compensation which is equal to the credit. In addition, the amount of any other credit otherwise allowable with respect to compensation paid to an employee must generally be reduced by the differential wage payment credit allowed with respect to such employee.
Empowerment Zone and Renewal Community Employment Credit (Form 8844)
The empowerment zone and renewal community employment credit is a component of the general business credit. It is claimed on Form 8844 but not carried over to Form 3800. This credit has two parts: (1) the empowerment zone employment credit, and (2) the renewal community employment credit. See IRS Publication 954 for more information on this credit.
Empowerment Zone Employment Credit
If you locate your business in a qualified federal "empowerment zone" and hire residents of that zone to work within it, you may be eligible to claim a tax credit. The tax credit can be 20 percent of the first $15,000 of wages that you paid each qualified zone employee (i.e., a maximum credit of $3,000 per employee each year). Qualified empowerment zones are those designated by the Secretary of Housing and Urban Development (HUD). To find out whether your area has been designated as an empowerment zone, go to HUD's website (www.hud.gov) or (http://hud.esri.com/egis).
Caution: Certain types of businesses, including liquor stores, aren't eligible for this credit.
Caution: You may not deduct, as a business expense, wages that you take into account in computing the empowerment zone employment credit.
Renewal Community Employment Credit
Congress created the renewal community employment credit to attract business investment and create employment opportunities in certain communities with high poverty and unemployment rates. Your business may take a 15 percent wage credit for the first $10,000 of wages paid to each employee who is a resident of a designated renewal community and performs substantially all of his or her work within that community. As a result, the credit can be as much as $1,500 (15 percent of $10,000) per qualified employee each year. This credit is for wages paid or incurred after 2001. To find out whether your area has been designated as a renewal community, call HUD at 1-800-998-9999 or go to HUD's website (www.hud.gov).
Small Business Health-Care Tax Credit
The health-care reform law passed in 2010 gives a tax credit to certain small employers that provide health-care coverage to their employees. Small businesses can take a credit to offset their federal income taxes for contributions to purchase health insurance for employees. This credit targets small businesses and tax-exempt organizations that employ low- and moderate-income workers. Companies with no more than 25 full-time employees with wages that average no more than $55,200 (in 2020) are eligible for a portion of the credit, with a full credit given to employers with 10 or fewer full-time employees with average wages of less than $27,600 (in 2020).
In order to qualify for the credit, an employer must contribute at least half of the total cost of the health insurance premiums. The tax credit is generally equal to 35 percent of the health insurance premium contributions for 2010 through 2013, and 50 percent for tax years beginning in 2014. For tax-exempt organizations, the maximum credits are 25 percent in 2010 through 2013, and 35 percent beginning in 2014.
The amount of the credit taken reduces the business expense deduction an employer can take for health insurance. The credit can be carried back for one year and carried forward for 20 years. A for-profit employer may claim the credit on its annual income tax return as part of the general business credit and may take the credit into account in determining the amount of estimated tax payments. The IRS has posted answers to frequently asked questions on its website.
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