Certain payors are required to issue information returns to help you prepare your tax return. Here is a handy schedule of when to expect the information. If you fail to receive information you’re expecting, contact the payor immediately:
From 1997 to 2007, federal income tax credits claimed by individuals rose from $15.7 billion in 1997 to $63.8 billion in 2007. The child tax credit, created in 1998, accounted for about half ($31.6 billion) of the total credits in 2007 in terms of dollars.
Source: Statistics of Income Bulletin Spring 2011View all factoids