What Are Tax Credits? - TurboTax Tax Tips & Videos
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WebJan 12, 2024 · A tax credit is a dollar amount that you can subtract from your income tax to reduce your overall tax liability. So, while a tax refund simply represents the difference between the taxes you paid versus the taxes you actually owe, a tax credit is a benefit that directly reduces your tax burden. Reviews: 150.8K
Reviews: 150.8K
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