Tax credits and tax deductions both decrease what you owe the IRS, but in different ways. Here's the difference, and how you can make them work for you.

(NewsNation) — When handling your taxes, it can be tricky to decide whether to opt for a tax deduction, tax credit, or both if you’re eligible. While both offer tax relief, they do so in different ...

Tax deductions can lower the amount of income that is subject to tax. Here's more on how tax deductions work, plus 25 tax breaks that might come in handy.

Tax credits are generally more valuable than tax deductions. There are many types of each: nonrefundable, partially refundable and fully refundable tax credits, and standard vs. itemized deductions, ...

As you file federal taxes, deductions and credits can help lower your tax bill — but they do so differently. Deductions reduce your taxable income by allowing you to subtract certain expenses from ...

While the "One Big Beautiful Bill" signed into law by President Trump on July 4 didn't eliminate taxes on Social Security ...

The bump could help boost tax refunds for qualifying low- and moderate-income families. Read more: New income tax brackets announced: 2026 standard deduction increases, rates. Fam ...

In addition to managing a policy point, the top-up tax credit manages “the political issue that there weren’t losers coming ...

Trying to figure out how to maximize your tax refund? Understanding tax credits and tax deductions can help you optimize your tax return and cut your overall tax liability. Tax credits cut your tax ...

A small point on Tim Walz’s comment on the tax deduction for small-business startup expenses. He described it as a credit that Democrats wanted to increase to $50,000 from $5,000. A tax credit reduces ...