Tax Credits - Table of Contents

How tax credits work, their benefit over tax deductions, and the difference between refundable and nonrefundable tax credits.
Example: Some Tax Credits Provide Greater Tax Equity
Benefit of Tax Credits Over Tax Deductions
Refundable and Nonrefundable Tax Credits
Order of Application of Tax Credits

A tutorial on the earned income tax credit (EITC), including eligibility requirements, tie-breaking rules for when a qualifying child can be claimed by more than one taxpayer, how the EITC is calculated, and the penalties assessed for fraudulently claiming or disregarding the rules for claiming the EITC.
Eligibility
- Tie-Breaking Rules
Earned Income, Disqualifying Income
How the Earned Income Credit Is Calculated
EIC Related Penalties

The child tax credit and additional child tax credit requirements and how to calculate both, illustrated with examples.
Additional Child Tax Credit

Who can claim the credit for child and dependent care expenses, the requirements for a qualifying child or dependent for which expenses can be claimed, and how to calculate the dependent care credit, illustrated with examples.
Taxpayer and Dependent Eligibility
Eligible Dependent Care Expenses
Calculating the Dependent Care Credit