Last-minute tax tips
Take tax credits into account
Deductions lower your taxable income, but tax credits are even more valuable because they directly reduce the amount of tax you pay. That's why you should not miss some of the many credits available.
For example, the Earned Income Tax Credit lowers the tax bite for low- and moderate-income working families. The child tax credit applies for most families with children under 17 and the child and dependent care credit should come in handy for families who pay for child care. The Hope and Lifetime Learning Credits help families cover education costs.