Tax credits | Taxes and tax forms | Financial Literacy | Khan Academy

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https://www.khanacademy.org/college-careers-more/financial-literacy/xa6995ea67a8e9fdd:taxes-and-tax-forms/xa6995ea67a8e9fdd:federal-income-taxes/v/tax-credits

Tax credits directly reduce the amount of tax you owe and can sometimes lead to a refund. Common credits include the Child Tax Credit, Earned Income Tax Credit, and education credits like the American Opportunity Credit. Unlike deductions, which lower taxable income, credits provide a dollar-for-dollar reduction in your tax bill.

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