How to Reduce Your Tax
You can claim credits when you file your tax return to lower your tax.
Make sure you get all the credits you qualify for.
Claim Credits
A credit is an amount you subtract from the tax you owe.
This can lower your tax payment or increase your refund.
Some credits are refundable, they can give you money back even if you don’t owe any tax.
Check Points – You Can Claim Credits
If you earn under a certain income level
See if you qualify for the Earned Income Tax Credit.
This is a refundable credit, so you can get back more than you pay in taxes.
If you qualify, you can claim it even if you don’t normally file taxes or aren’t required to file.
If you are a parent or caretaker
Find credits if you:
Have children or other dependents: Child Tax Credit
Adopt a child: Adoption Credit
Pay for childcare or dependent care: Child and Dependent Care Credit
If you pay for higher education
See if you qualify for an education credit: Education Credit
If you put money into retirement savings
See if you qualify for the saver’s credit: Saver’s Credit
If you invest in clean vehicles or clean home energy
Find credits if you:
Buy a clean (electric or hybrid) vehicle: Clean Vehicle Tax Credits
Make home energy improvements: Home Energy Tax Credits
If you buy health insurance in the marketplace
See if you qualify for the Premium Tax Credit: Premium Tax Credit
