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A tax credit is an incentive that lets a taxpayer reduce the total amount of tax owed. Find out which tax credits are available to you.
Here’s what to know about records to hang on to and how long you should keep them.
Taxpayers can follow their refund online, by phone or with a smartphone app.
Personal credit card use is almost never eligible for a deduction come tax season, but if you’re using a business credit card you can likely deduct your fees.
A new IRS form helps you figure tax withholding from your paycheck. But it’s not easy.
You have to meet certain tests to claim your mother as a dependent on your taxes.
You may qualify for a tax credit of up to $500 if your roof meets certain energy requirements.
The IRS requires tax preparers to furnish proof of a child’s residency to claim the EITC.
You enjoyed the benefits while you were working, but now in retirement it’s time to pay taxes.
Children are expensive. But parents can take advantage of several child-related tax breaks.
Similar to a store credit, this credit gives you a direct cut on the amount of taxes you owe.
Making your home more energy-efficient could cut your utility bill and save tax dollars.
Some taxpayers will have to claim the first-time homebuyer credit or begin paying it back.
Expiring tax breaks and spending cuts may create an avalanche of revenue, but look out!
If you paid foreign taxes, you have a choice as how to use them to cut your U.S. tax bill.