What Are Tax Credits?

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Tax credits subtract directly from what you owe the IRS as you complete your tax return. They're better than tax deductions because they're applied dollar for dollar to your tax debt for the year, and some of them can even result in cash back or be carried forward to subsequent years.

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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