What If The ITC Exceeds The Amount I Owe The IRS In Taxes?

The Federal Investment Tax Credit (ITC) is considered a ‘nonrefundable credit,’ so you will not get a refund for the balance.  However, you can carry over the balance of any unused amount of the tax credit into the following tax year until it is exhausted.

By |2024-01-17T17:36:19+00:00May 12th, 2021|, |0 Comments

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