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  3. What are tax credits and how do they work? - AOL

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    Turbotax notes that tax credits are a “dollar-for-dollar reduction of your income.”. To claim a tax credit, you must first determine your eligibility. If you believe that you qualify for a tax ...

  4. Don't miss these 3 tax credits when you file this year - AOL

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    1. EARNED INCOME TAX CREDIT. The earned income tax credit, or EITC, is one of the most common income tax breaks, designed to help lighten the burden for middle- and lower-income families. For the ...

  5. All About Tax Credits: What You Need to Know Before Filing - AOL

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    Continue reading → The post All About Tax Credits appeared first on SmartAsset Blog. If you were unhappy with last year's income tax bill, there are several ways to reduce your overall 2022 tax ...

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  7. What Tax Credits Can I Qualify for in 2024? - AOL

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    If you’ve put money in an IRA, 401(k), 403(b) or other eligible retirement account, the Saver’s Credit could get you a tax credit worth between 10% and 50% of your 2023 contribution amount.

  8. Child tax credit (United States) - Wikipedia

    en.wikipedia.org/wiki/Child_tax_credit_(United...

    A tax credit enables taxpayers to subtract the amount of the credit from their tax liability. [d] In the United States, to calculate taxes owed, a taxpayer first subtracts certain "adjustments" (a particular set of deductions like contributions to certain retirement accounts and student loan interest payments) from their gross income (the sum of all their wages, interest, capital gains or loss ...

  9. New Markets Tax Credit Program - Wikipedia

    en.wikipedia.org/wiki/New_Markets_Tax_Credit_Program

    The New Markets Tax Credit (NMTC) Program is a federal financial program in the United States. It aims to stimulate business and real estate investment in low-income communities in the United States via a federal tax credit. The program is administered by the US Treasury Department's Community Development Financial Institutions Fund (CDFI Fund ...

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