Qualifications: In order to qualify for the credit children must meet certain requirements that include age, relationship, support, dependent, citizenship and residence.
The EITC is a credit that is actually refundable, which means that if a taxpayer's tax liability is less than the credit, the tax filer actually gets a check from the IRS
The Saver’s Credit: If your family makes less than $60,000 per year, you could qualify for double benefits from your retirement contributions. You can save for the future and increase your income tax returns.
Two common tax deductions are available to help alleviate the cost of college: the American Opportunity Credit and the Lifetime Learning Credit. Using these educational tax credits can help decrease tuition costs by up to $2,500 per year per dependent child
The Elderly And Disabled Tax Credit helps seniors so they are not taxed beyond what they can reasonably pay, this credit helps to reduce their taxable income.
When someone chooses to pay their health insurance premiums using tax credits, it is called “advanced payments of the premium tax credit” or “advance credit payments”
If you made improvements or installed any energy saving equipment in your home in you may be entitled to some tax benefits.
Individuals who pay for child or dependent care in order to be able to work or search for work may be eligible to claim the Child and Dependent Care Tax Credit.