Tax credits are things that folks may qualify for that reduce the amount of your tax,” said IRS Spokesperson Stacy Engle. “Or certain credits that actually increase your re ...

There is a quirky part of the tax law, called the “kiddie tax,” that can trip up some well-meaning parents who are just trying to get their kids started on good savings habits.

Fri, January 23, 2026 at 10:33 PM UTC The child tax credit is a valuable federal tax break for families, aimed at helping defray the costs of raising children. Taxpayers who qualify can cut their tax ...

If a child collects a sizable amount of money from investments or other sources of unearned income in a given year, their parent or guardian will likely need to pay taxes on it. While a portion of the ...