Hello, I need help with a project: Project One Milestone One Guidelines and Rubric ACC 330 Project One Milestone One Guidelines and Rubric Overview Each year the Internal Revenue Service (IRS) updates
Research to compare tax credits and their corresponding forms.
Compare the current tax year with the prior tax year (for instance, 2021 and 2020).
Research the forms required for the respective tax year and complete the table.
Follow the example provided for Earned Income Tax Credit (EITC).
Hint: Changes in requirement and parameter may include the following areas: amount of credit, income thresholds, qualified dependents and/or filing status.
Note: All tax credits will be different and will contain varying amounts of information based on changes you observe over time.
EXAMPLE: Form 1040 Earned Income Tax Credit (EIC) Address the following: | Specify changes, uses, developments: |
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Documentation if applicable (statements from taxpayer(s), other substantiating proof, official IRS tax forms provided to the taxpayer(s), etc.) |
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Citations – Include related IRS publications, IRS articles, tax forms for each year used for comparison, and any other supporting research |
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- Form 8863 Education Tax Credit American Opportunity Tax Credit (AOTC)
Address the following: | Specify changes, uses, developments: |
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Documentation if applicable (statements from taxpayer(s), other substantiating proof, official IRS tax forms provided to the taxpayer(s), etc.) | |
Citations – Include related IRS publications, IRS articles, tax forms for each year used for comparison, and any other supporting research |
- Form 8863 Lifetime Learning Credit (LLC)
Address the following: | Specify changes, uses, developments |
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Documentation if applicable (statements from taxpayer(s), other substantiating proof, official IRS tax forms provided to the taxpayer(s), etc.) | |
Citations – Include related IRS publications, IRS articles, tax forms for each year used for comparison, and any other supporting research |
- Form 8812 Child Tax Credit
Address the following: | Specify changes, uses, developments: |
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Documentation if applicable (statements from taxpayer(s), other substantiating proof, official IRS tax forms provided to the taxpayer(s), etc.) | |
Citations – Include related IRS publications, IRS articles, tax forms for each year used for comparison, and any other supporting research |
- Form 8812 Other Dependent Credit
Address the following: | Specify changes, uses, developments: |
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Documentation if applicable (statements from taxpayer(s), other substantiating proof, official IRS tax forms provided to the taxpayer(s), etc.) | |
Citations – Include related IRS publications, IRS articles, tax forms for each year used for comparison, and any other supporting research |
- Form 2441 Child and Dependent Care Credit
Address the following: | Specify changes, uses, developments: |
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Documentation if applicable (statements from taxpayer(s), other substantiating proof, official IRS tax forms provided to the taxpayer(s), etc.) | |
Citations – Include related IRS publications, IRS articles, tax forms for each year used for comparison, and any other supporting research |