Maximize Your Refund

You may be able to get certain tax credits and deductions that will let you keep more of your hard earned money.

A tax credit reduces the amount of income tax you may have to pay.

A tax deduction reduces the amount of your income that is subject to tax. In general, a deduction will reduce the amount of tax you may have to pay.

There are several tax credits and tax deductions, including for people in the following situations:

• Low to moderate income workers (EITC)
• Families with children and/or dependents who can’t take care of themselves
• Students
• Individuals saving for retirement
• Teachers
• Homeowners
• Business-owners and the self-employed
• Victims of national disasters
• Members of the armed forces

To keep more of your money at tax time, make sure you also find out about tax scams and services that you should avoid that could cost you hundreds of dollars.

Remember, the deadline to file your taxes is Tuesday, April 17, 2012.