Tax Credit

Tax Credit means: a dollar-for-dollar reduction in the amount of tax that a taxpayer owes. Unlike deductions or exemptions, which reduce the amount of income subject to tax, a tax credit reduces the actual amount of tax owed. In other words, a reduction in the tax that can be deducted directly from taxes owed.

Tax Credits in the United States

Adoption Tax Credit

Learn about the Adoption Tax Credit issue in this American Tax Encyclopedia.

American Opportunity Tax Credit

Learn about the American Opportunity Tax Credit issue in this American Tax Encyclopedia.

Child and Dependent Care Tax Credit

Learn about the Child and Dependent Care Tax Credit issue in this American Tax Encyclopedia.

Child Tax Credit

Learn about the Child Tax Credit issue in this American Tax Encyclopedia.

Earned Income Tax Credit

Learn about the Earned Income Tax Credit issue in this American Tax Encyclopedia.

Foreign Tax Credit

Learn about the Foreign Tax Credit issue in this American Tax Encyclopedia.

Credit for the Elderly and Disabled

Learn about the Credit for the Elderly and Disabled issue in this American Tax Encyclopedia.

Lifetime Learning Tax Credit

Learn about the Lifetime Learning Tax Credit issue in this American Tax Encyclopedia.

Mortgage Interest Tax Credit

Learn about the Mortgage Interest Tax Credit issue in this American Tax Encyclopedia.

See also other Tax Terms and Definitions in U.S.A.

specific credits, such as child and dependent care credit, earned income tax credit, and targeted jobs tax credit.

State Income Tax

See Tax exemption and Tax exemption.

Earned Income Tax Credit Issue

You may find information about Earned Income Tax Credit in this Tax Platform of the American Encyclopedia of Law.