Comment by hnburnsy
These are credits that only work if you have owe federal taxes and they cannot be carried forward. I've seen estimates that 40-45% of taxpayers owe 0 or close to 0.
These are credits that only work if you have owe federal taxes and they cannot be carried forward. I've seen estimates that 40-45% of taxpayers owe 0 or close to 0.
I think something like 25% of the population reports 0 household income.
(I don't understand the implications, it was just surprising when I heard that.)
You can also get considerable rebates if your state participates in the "Inflation Reduction Act Home Energy Rebate Program", especially if you are low income. My state is still working on rolling it out but hopefully many people who can't use tax credits will be able to take advantage.
https://www.tn.gov/environment/program-areas/energy/state-en...