Comment by hnburnsy | Hacker News Reader

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Comment by hnburnsy | Hacker News Reader

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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.

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...

Eh? If you have income you owe taxes, Uncle Sam just takes it before you even see it

Federal taxes specifically.

They are right, tax credits can't reduce your tax burden below 0 so this incentive does nothing for very low income families.

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.)

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