When are taxes due? Tax deadlines for 2021
The deadline for filing your 2020 taxes is April 15, 2021. Here’s what else to know.

Have you heard of tax credits but are unsure how they work? Bankrate explains.
A tax credit is an incentive that lets a taxpayer subtract a set amount from their local, state, or federal tax liability. Governments offer tax credits in an effort to incentivize certain desired behaviors or support public goods, such as buying a first home, paying for child care, or caring for an elderly parent.
Tax credits are distinct from tax exemptions or tax deductions. A tax credit reduces the total amount of tax owed. Separately, a tax deduction is a portion of taxable income that may be excluded from taxation when certain conditions are satisfied, while a tax exemption constitutes income that is not subject to taxation in the first place.
There are three broad categories of tax credits:
The U.S. federal government usually grants a tax credit for special circumstances and certain groups:
In addition to the federal government, many states that levy income taxes also offer tax credits. These tax credits vary by state but often mirror the tax credits offered by the federal government.
There are a wide variety of credits you can claim. Let Bankrate help you navigate them.
A taxpayer with one qualifying child in the 2016 tax year received up to $3,373 as a tax credit. Ezekiel earned $30,000 during the 2016 tax year, and after accounting for all deductions, he had a tax bill of $2,810, but paid $4,500 in income tax payroll deductions. Ezekiel qualified for the maximum earned income tax credit, and received a tax refund of $5,063.