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9 tax credits to consider when filing your taxes for 2023

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Taking advantage of the right tax credits could make a significant difference in your tax refund. 

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Tax season is upon us again and, with it, comes tax refunds. Savvy filers can use tax credits to expand their return. After all, when you take advantage of tax credits, you could realize a meaningful increase in your tax refund or a significant decrease in the amount of money you have to pay when you file your taxes for 2023

On the other hand, the IRS updates available tax credits every year. So, you may find it difficult to determine which tax credits apply to you and how much they may reduce your overall tax burden. 

Simplify the filing process with TaxSlayer now

9 tax credits to consider when filing your taxes for 2023

Tax credits can give your refund a boost or make a meaningful difference in your tax bill. Here are some of the most popular credits and how much money they could be worth to you: 

Tax credits for parents

  • Adoption tax credit: If you adopted a child, or children, in 2023, you may be eligible for a tax credit of up to $15,950 per child to help cover qualified adoption expenses. These expenses include court costs, reasonable adoption fees, attorney fees, traveling expenses and other costs directly related to the adoption of the child. 
  • Child tax credit: If you have children, you may qualify for a tax credit of up to $2,000 per child. In order to qualify for the credit, your children must have been younger than 17 years old on the last day of 2023. 
  • Child and dependent care tax credit: If you incurred costs associated with child care or the care of another dependent – like a disabled spouse – you may qualify for up to a $3,000 tax credit for one dependent or $6,000 for two or more dependents that you cared for in 2023. 

Find out what tax credits you qualify for with TurboTax

Energy efficient upgrade tax credits

  • Electric vehicle tax credit: Did you buy an electric vehicle in 2023? If so, you may qualify for a tax credit of up to $7,500. This credit is only available if you purchased the vehicle for your own use (not for resale) and if you primarily use the vehicle in the United States. Other limitations – like income limits – may apply. 
  • Residential energy tax credit: Upgrades to your home may lead to tax credits as well. That’s especially true if your upgrades improved your home’s energy efficiency. For example, you may qualify for a tax credit equal to 30% of the total cost of your new solar panel installation. You may also be able to take advantage of tax credits if you upgraded your exterior windows, doors and skylights in 2023. 

Education tax credits

  • American opportunity credit: Are you seeking a higher education or are the parent college-aged students? If so, you may qualify for a credit of up to $2,500 per qualifying student. The credit may cover 100% of the first $2,000 you spend on qualified education expenses per student and 25% of the following $2,000 you spend. 
  • Lifetime learning credit: This is another credit for those seeking a higher education or those who are paying for another student’s education. The credit may cover up to $2,000 in qualified education expenses. 

Other general tax credits

  • Earned income credit: The earned income tax credit could be worth between $600 and $7,430 for the 2023 tax year, depending on your filing status and the number of dependents you have. 
  • Retirement savings contributions credit (saver’s credit): The credit could be worth between 10% and 50% of the contributions you made to a qualifying retirement account – like a 401(k) or IRA – in 2023, depending on your income.  

The bottom line

With tax season upon us, most Americans are looking forward to their refunds. However, taking advantage of the right tax credits could mean the difference between a menial refund and a meaningful one. Consider the credits above as you file your 2023 tax return



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Transcript: Sen. Mark Kelly on “Face the Nation with Margaret Brennan,” Oct. 6, 2024

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The following is a transcript of an interview with Sen. Mark Kelly, Democrat of Arizona, on “Face the Nation with Margaret Brennan” that aired on Oct. 6, 2024.


MARGARET BRENNAN: Joining us now is Arizona’s Democratic Senator, Mark Kelly. He’s in Detroit this morning on the campaign trail for the Harris campaign. Good morning to you, Senator.

SEN. MARK KELLY: Good morning, Margaret.

MARGARET BRENNAN: I want to talk to you about Arizona, but let’s start in Michigan, which is where you are right now. And it is going to be such a key state to a potential Harris or Trump victory. Vice President Harris is facing challenges among black men, working class people, as well as the Muslim and Arab populations skeptical of the White House support for Israel’s wars. What are you hearing on the ground there from voters?

SEN. KELLY: Well, my wife, Gabby Giffords, and I have been out here for a couple days. We’ve been campaigning across the country, Michigan, I’ve been in North Carolina, Georgia as well. I’ll be back to Arizona here soon. The vice president was out here speaking to Muslim organizations and the Arab community about what is at stake in this election and addressing the concerns that they have. What we’re hearing, issues about the economy, about gun violence, about, you know, supporting American families and the difference between Donald Trump and Kamala Harris. You know, Kamala Harris, who has a vision for the future of this country, Donald Trump, who just wants to drag us backwards.

MARGARET BRENNAN: Today in Dearborn, Michigan, there’s a funeral service for an American man who was killed in Lebanon by an Israeli airstrike. It just underscores how that community you’re talking about out in Michigan feel some of what’s happening in a personal way to their community. Given how close this race is, do you think this war and the expectation it could escalate could cost Democrats both a seat in the Senate and potentially the presidency?

SEN. KELLY: Margaret, nobody wants to see escalation and it’s tragic when any innocent person, whether it’s an American or Palestinian, lose their life in a conflict. Tomorrow’s one year since October 7th, when Israel was violently attacked. Israel has a right to defend itself, not only from Hamas, but from Hezbollah and from the Iranians. But, you know, I and my wife, you know, we feel for the community here who’s been affected by this. And that’s why the vice president was out here earlier, a few days ago, meeting with that community. 

MARGARET BRENNAN: But it’s a live issue.

SEN. KELLY: Yeah, sure. I mean, there is an ongoing conflict in the Middle East. Israel is, you know, fighting a war now on, I think it’s fair to say, two fronts and then being attacked by the Iranians as well. And, they- they need to defend themselves, and we need to support our Israeli ally. At the same time, when women and children lose their life, innocent people in a conflict, it is- it is tragic.

MARGARET BRENNAN: You do sit on the Senate Intelligence Committee and so I know you know how intense the efforts are by foreign actors to try to manipulate voters going into November. Just this Friday, Matthew Olsen, the lead on election threats at the Department of Justice, told CBS the Russians are, quote, highlighting immigration as a wedge issue. That is such a key issue in Arizona. Are you seeing targeted information operations really focusing in on Arizonans right now?

SEN. KELLY: Not only in Arizona, in other battleground states. It’s the Russians, the Chinese, the Iranians, and it’s significant. And we need to do a better job getting the message out to the American people that there is a huge amount of misinformation. If you’re looking at stuff on Twitter, on TikTok, on Facebook, on Instagram, and it’s political in nature, and you may- might think that that person responding to that political article or who made that meme up is an American. It could be- it could look like a U.S. service member. There is a very reasonable chance I would put it in the 20 to 30% range, that the content you are seeing, the comments you are seeing, are coming from one of those three countries: Russia, Iran, China. We had a hearing recently, with the FBI director, the DNI, and the head of the National Security Agency. And we talked about this. And we talked about getting the word out. And it’s up to us, so thank you for asking me the question, because it’s up to us, the people who serve in Congress and the White House to get the information out there, that there is a tremendous amount of misinformation in this election, and it’s not going to stop on November 5th.

MARGARET BRENNAN: Understood. And we will do our best to help parse that for viewers. But on the topic of the border, President Biden did announce just this past week new regulations to keep in place that partial asylum ban that he rolled out back in June. That’s what’s credited with helping to bring down some of the border crossing numbers in recent weeks. It was supposed to be a temporary policy, dependent on how many people were crossing at a time. Do you think this is the right long term policy, or is this just a gimmick to bring down numbers ahead of the election?

SEN. KELLY: Well, the right long term policy is to do this through legislation. And we were a day or two away from doing that, passing strong border security legislation supported by the vice president, negotiated by the vice president, and the president and his Department of Homeland Security, with Democrats and Republicans– 

MARGARET BRENNAN: But this is not legislation. 

SEN. KELLY: –This is bipartisan. This isn’t. But the legislation was killed by Donald Trump. We were really close to getting it passed. That’s the correct way to do this. When you can’t do that, Margaret, when a former president interrupts the legislative process the way he did, which is the most hypocritical thing I’ve ever seen in my three and a half years in the Senate. After that happened, the only other option is executive actions. And this has gone from what was chaos and a crisis at our southern border to somewhat manageable. And if you’re the border- Border Patrol, you know, this is this- you need this. I mean, otherwise it is unsafe for Border Patrol agents, for CBP officers, for migrants, for communities in southern Arizona. So it’s unfortunate that this was the- these were the steps that had to be taken. 

MARGARET BRENNAN: Okay.

SEN. KELLY: But that’s because the former president didn’t allow us to do this through legislation. 

MARGARET BRENNAN: Senator, we have to leave it right there. Face the Nation will be right back.



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10/6: Sunday Morning – CBS News

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10/6: Sunday Morning – CBS News


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Hosted by Jane Pauley. In our cover story, Robert Costa talks with election officials about threats to your right to vote. Plus: Tracy Smith talks with pop music icon Sabrina Carpenter; Ben Mankiewicz sits down with “Matlock” star Kathy Bates; Kelefa Sanneh interviews pop star and Louis Vuitton’s creative director of its men’s collection Pharrell Williams; Dr. Jon LaPook goes behind the scenes of Delia Ephron’s new Broadway play, “Left on Tenth”; Lee Cowan reports on a young autistic man’s creation of a six-movement symphony; and Seth Doane explores how the National Library of Israel and the Palestinian Museum are collecting artwork and other materials documenting the October 7th Hamas attack and its aftermath.

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Sen. Mark Kelly says Americans need to know about “huge amount of misinformation” on election

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Sen. Mark Kelly says Americans need to know about “huge amount of misinformation” on election – CBS News


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In the wake of the Department of Justice warning that Russians are using immigration as a wedge issue for American voters, Sen. Mark Kelly tells “Face the Nation” with Margaret Brennan that “we need to do a better job getting the message out there that there is a huge amount of misinformation” as Election Day approaches.

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