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What's a Refundable Tax Credit? - Taxes - About.com
A refundable tax credit is a tax credit that is treated as a payment and thus can be refunded to the taxpayer by the Internal Revenue Service. Refundable credits ...
Tax Credits - Preparing Your 1040 Step 7 - Taxes - About.com
Tax planning consists of two equally important parts: using deductions to reduce taxable income, and using credits to reduce tax. Tax credits reduce your tax ...
Overview of the Lifetime Learning Tax Credit - Taxes - About.com
Jan 13, 2013 ... The Lifetime Learning Credit is a tax credit for any person who takes college classes. It provides a tax credit of 20% of tuition expenses, with a ...
State and Local Earned Income Tax Credits - Taxes - About.com
The Earned Income Tax Credit, or EITC, is a federal income tax credit for low- income working families and individuals. Taxpayers who qualify for this federal tax ...
Claiming Foreign Tax Credit or Deduction - Taxes - About.com
Americans working abroad may claim a foreign tax credit on federal income tax returns. Find out how to claim the foreign tax credit on IRS Tax Form 1116.
Qualifications for Adoption Tax Credit - Taxes - About.com
Nov 4, 2013 ... Individuals qualify for the adoption tax credit they adopted a child and paid out-of- pocket expenses relating to the adoption. The amount of the ...
Overview of the American Opportunity Tax Credit - Taxes - About.com
The American Opportunity Tax Credit is a refundable tax credit for undergraduate college education expenses. This credit provides up to $2,500 in tax credits on ...
Child and Dependent Care Tax Credit - Taxes - About.com
Individuals who pay for day care expenses for their children or disabled adult dependents may be eligible for a federal tax credit of up to 35% percent of the cost ...
What Is the Earned Income Tax Credit? - Taxes - About.com
The earned income credit is a refundable tax credit designed for lower income working families and individuals. The amount of the credit varies depending on ...
Tax Credit - Definition and Overview - Saving for College - About.com
This is very different than a tax deduction, which does not directly reduce the amount you owe. Rather, a tax deduction reduces the amount your tax is calculated ...
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