The earned income tax credit and additional child tax credit are “refundable,” meaning filers can claim a refund without tax ...

But this doesn't mean it's the same as a deduction. Here's a guide to tax credits, what they are and how they work. Start the day smarter. Get all the news you need in your inbox each morning.

The IRS estimates one in five eligible taxpayers don’t claim the earned income tax credit on their tax returns, missing out on thousands of dollars.

let’s clarify the differences between a tax credit and a tax deduction and how both work to lower your tax liability in different ways. A tax credit directly reduces the taxes you owe the IRS ...

Here is what to know about how the credits work, and how they might change. At least 15 vehicles from the 2025 model year qualify for the full $7,500 credit. The list is here. Purchased or leased ...

The future of the child tax credit and its value is now in the hands of the Republican majority in Congress, and a new expansion proposal is on the table.

The proposed legislation aims to invest $90 million over three years to boost workforce participation. Addressing both ...

Here's a breakdown of how these tax credits work and who qualifies. Designed for low- to moderate-income workers, the earned income tax credit is worth up to $7,830 for eligible families with ...