FIVE IMPORTANT TAX CREDIT

You might be eligible for a valuable tax credit.  A tax credit is a dollar-for-dollar reduction of taxes owed.  Some credits are even refundable.

Earned Income Tax Credit is a refundable credit for certain people who work and have earned income.  Income, age, and the number of qualifying children determine the amount of the credit.

Child and Dependent Care Credit is for expenses paid for the care of your qualifying children under age 13, or for a disabled spouse or dependent, to enable you to work or look for work.

Child Tax Credit is for people who have a qualifying child.  The maximum amount of the credit is $1,000 for each qualifying child.

Retirement Savings Contribution Credit, also known as the Saver's Credit, is designed to help low to moderate income workers save for retirement.

Health Coverage Tax Credit pays up to 80% of the health insurance premiums for eligable Trade Adjustment Assistance recipients and Pension Benefit Guaranty Corporation payees.
 

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