What Are Tax Credits?

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The federal government offers some tax credits to taxpayers who commit to a variety of things that are deemed to be for the public good, such as adopting a child, saving for retirement, or continuing education. Other credits, like the earned income tax credit, are designed to bolster the economy, putting spendable dollars back into the pockets of low-income taxpayers.

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Original Article Source Credits:   The Balance , https://www.thebalance.com/

Article Written By:  BEVERLY BIRD

Original Article Posted on:  August 31, 2020

Link to Original Article: https://www.thebalance.com/tax-credits-and-qualifying-rules-4155743