Congress is always on the watch for ways to stimulate the U. S. economy, by enacting laws that provide tax credits for individual and business taxpayers. Just when you thought preparing a 1040 tax form could not get any more complicated, there is yet another tax credit. Some of those credits can benefit individual taxpayers by lowering their taxable income.
It is time to find the next great tax credit for individual taxpayers. In this discussion, devise a tax credit that will benefit individual taxpayers. Explain what it is, and how this credit will benefit the individual taxpayer, the individual’s family, and the U. S. economy.