From standard deductions to adoption credits, the IRS has announced major updates that could impact your tax return this year ...

Tax season opened on January 27, meaning taxpayers can now file and pay their tax returns with the Internal Revenue Service.

How do federal tax credits work? Tax credits directly subtract money from the federal income taxes that you owe, meaning each ...

By ensuring you claim any tax credits and deductions you qualify for, you can lower your tax liability and save some money.

Additional child tax credit: Although the IRS puts this "credit" on a separate page of Form 8812, it works like a partial refund for any child tax credit money that goes beyond your tax burden.

The Child Tax Credit (CTC) is a SUPER credit because it can create a $2,000 per child reduction in your tax liability for ...