(NewsNation) — Federal tax credits could be key in lowering tax bills for many Americans this April. However, a tax credit is different from a tax deduction, which lowers the amount of an individual’s ...

The majority of Americans don’t understand the difference between a tax deduction and tax credit. Tax deductions reduce the amount of income you pay taxes on. Are you ahead, or behind on retirement?

Tax credits are a powerful way to save money on taxes. Each dollar of a tax credit is subtracted directly from the amount of tax you owe the IRS. And some tax credits are refundable, meaning even if ...

For the 2025 tax year, the CTC is seeing changes as part of President Trump’s tax and spending bill, often referred to as the ...

Thomas is a native of upstate New York and a graduate of the University at Albany. As a former member of CNET's How To team, he wrote about the intersection of policy, information and technology, and ...