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Wake North Carolina online Form 8889: What You Should Know
HSA beneficiaries) may qualify for a 2,000 IRS credit for any 1,250 of health savings account expenses that are paid for by an employer. For more information, see IRS Publication 513, Benefits for Health Care Providers. North Carolina Guidance on Health Savings Accounts Jan 31, 2023 — North Carolina guidance regarding HSA and Health Savings Accounts. Child Tax Credit Apr 14, 2023 — North Carolina Child Tax Credit is revised to allow taxpayers to itemize deduction for child and dependent care. April 28, 2023 — The 2023 North Carolina Child Tax Credit is effective for tax year-end. April 28, 2023 — The 2023 North Carolina Child Tax Credit is effective through tax year-end. The amount of the Child Tax Credit is based on the credit method that North Carolina will use on January 1, 2018, for the purposes of refunding the child tax credit. For more information on the North Carolina Child Tax Credit, see North Carolina Child Tax Credit: Earned Income Tax Credit (ETC) vs. Additional Child Tax Credit. Tax on Income From Personal Services April 27, 2023 — North Carolina Income Tax includes a new 3 percent excise tax on compensation paid to certain employees in the private sector for services provided to the employer. It also increases the income threshold to meet the requirement for the tax. For more information, see Revenue Estimating and Information System (REID) — North Carolina Online. The REID provides information on North Carolina income tax rates, filing dates/schedule, deadlines, the REIS-Grievances program and how to use the REID to file. For additional information, contact your Revenue Division office. Personal income tax information and payment date/schedule for North Carolina. Mar 16, 2023 — The North Carolina Personal Income Tax includes a new 3 percent excise tax on compensation paid to certain employees in the private sector for services provided to the employer. The tax will generate an estimated fiscal impact of over 400 million. Revenue estimated the increase for this tax to approximately 2.5 percent of payroll. Revenue also estimated that the tax will generate an estimated 200 million increase to the state's unemployment insurance fund. The change will be effective for individuals with taxable income for 2023 through 2025. The state estimates that the overall effect on federal income taxes will be a reduction to taxable income at the federal level, but the income threshold for paying the tax will remain the same for individuals.
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