Tax credits are the best way to keep more of your money come April 15 because — unlike deductions, which only reduce your taxable income — they lower your bill on a dollar-for-dollar basis. Even better, you get cash back from the credits that are refundable or partially refundable once your tax bill falls to zero. However, some of the best tax credits are easy to miss. Some people mistakenly assume you have to itemize to claim all of them. Others leave money on the table over confusion about phaseouts. ...

Most people expect tax season to be painful. But for many Americans, it’s more expensive than it needs to be. Every year, households quietly forfeit up to billions of dollars in federal tax credits because they don’t know these programs exist or assume they don’t qualify. And that’s a costly mistake: unlike deductions, which only reduce taxable income, credits lower your bill dollar for dollar. Must Read At a time when household budgets are stretched thin, Americans can ill-afford to leave money on th ...