 Income tax 2021-2022. Recovery rebate credit overview. Get ready to get refunds to the max, diving into income tax 2021-2022. Most of this information can be found in the Form 1040 Instructions Tax Share 2021 on the IRS website, irs.gov, irs.gov. Income tax formula, we're down here at the bottom with the credit area noting that credits and deductions are both good but if you had a dollar deduction and a dollar credit, the dollar credit would typically be better because you typically get the full dollar of the credit as opposed to the dollar deduction which would be a decrease to the taxable income resulting then in the tax being calculated based on the taxable income. The credits down below are generally categorized into two categories non-refundable credits and refundable credits. Non-refundable credits don't take the tax liability below zero whereas the refundable credits may...