Tax Credits

The child tax credit is a tax credit tied to qualifying children and can reduce tax owed, with some rules allowing refundable benefit.

Refundable credit for qualifying taxpayers with earned income, often central to the final refund calculation.

A refundable tax credit can still provide benefit even after tax liability has been reduced to zero.

Credit terms that explain family, education, marketplace, energy, and business credits in the filing workflow.

A nonrefundable tax credit can reduce tax liability but generally cannot continue providing tax benefit after liability reaches zero.

Credit that can reduce U.S. tax later in the return by recognizing qualifying foreign taxes already paid.

Refundable child-credit mechanism that can let taxpayers benefit from unused child tax credit amounts.

Credit for certain work-related care expenses paid so a taxpayer can work or look for work.

Partly refundable education credit for eligible students in the first four years of higher education.

Nonrefundable education credit for qualifying postsecondary or job-skill education expenses.

Credit for certain retirement savings contributions made by eligible lower- and moderate-income taxpayers.

Credit for qualifying adoption expenses, with refundability and carryforward rules that can vary by tax year.

Health-coverage credit tied to marketplace insurance, household income, and benchmark premium rules.

Advance payment of the premium tax credit sent to an insurer during the year and later reconciled on the return.

Umbrella term for higher-education credits, mainly the AOTC and lifetime learning credit.

Credit tied to qualifying clean-vehicle purchases, with rules that depend heavily on vehicle type, buyer facts, and acquisition date.

Credit for certain qualified energy-efficient improvements to an existing main home, subject to annual limits.

Credit for certain new residential clean-energy property, such as solar or battery systems, with carryforward features.

Credit or refund mechanism for certain taxed fuel used in qualifying nontaxable ways.

Employer credit for qualifying wages paid to certified workers in targeted groups.

Credit for certain small employers that pay qualifying employee health-insurance premiums.

Small-business credit for certain accessibility expenditures made to help people with disabilities.

Employer adoption-assistance benefit that may be excluded from income under the tax rules.

Education costs that count toward education-credit calculations, depending on the specific credit being claimed.

Unused credit amount that the tax rules allow a taxpayer to apply in a later year.

Credit with both refundable and nonrefundable features rather than only one treatment.