A fierce tax debate is already underway in Congress, and the stakes are high for hardworking families. Lawmakers are debating ...

While deductions and credits can both positively impact your tax bill, credits can have the most influence. With a deduction, you are only reducing the amount of income subject to tax, but a credit ...

Tax credits and tax deductions both help you save money on your IRS bills, but they are not the same.  Unfortunately, ...

Parents and guardians can take advantage of one or more child-related credits to get a tax break. Here’s how to claim the ...

The IRS has issued more than 29.6 million individual income tax refunds through Feb. 21, up 2.3% from a year ago.

Unlike Energy Department assistance programs, there are no income limitations under theInflation Reduction Act’s tax credit initiative. One of the only qualifications is that the house must be your ...

The EV tax credit saw a major revamp in 2024, which enabled some buyers to benefit at the point of sale. But some tax ...

In 2024, nearly $25 billion was directed toward the clean energy projects in the United States via tax credit transfer transactions, according to Reunion, a credit transfer platform.

For example, a child may have started the school ... In that case, OTC said it would attempt to recover the tax credit on a prorated basis. The agency noted such taxpayers have an opportunity ...

For example, this means a family with three dependent ... you must file a MA income tax return to claim the Child and Family Tax Credit, even if you don’t have any income to report.

The easiest way to see how this difference impacts your taxes is through an example, which we’ll go through next. Assume an adjusted gross income (AGI) of $55,000 and a tax credit vs.