Hidden Ways to Maximize Your Tax Refund and Find Lesser-Known Deductions and Credits

Rhea-AI Summary

TurboTax highlights key tax deductions and credits ahead of the April 15, 2025 filing deadline. A Harris QuestDIY survey reveals significant deadline awareness gaps, with over 50% of 18-24 year olds unaware of the due date.

Notable credits include:

• Earned Income Tax Credit up to $7,830 for families with 3 kids
• Child Tax Credit up to $2,000
• Child and Dependent Care Credit up to $2,100 for multiple children
• American Opportunity Tax Credit up to $2,500 for college education
• Energy Efficient Improvements credits up to $1,200 for home upgrades

The Standard Deduction has been inflation-adjusted to $14,600 for single filers, $29,200 for joint filers, and $21,900 for head of household.

Positive

• Comprehensive range of tax credits and deductions available
• Inflation-adjusted standard deduction increases for all filing statuses
• Significant energy efficiency incentives up to 30% of costs

Negative

• 20% of eligible taxpayers miss out on Earned Income Tax Credit
• Low tax deadline awareness among young adults could lead to late filing penalties

MOUNTAIN VIEW, Calif., April 02, 2025 (GLOBE NEWSWIRE) -- With the IRS tax filing deadline approaching on April 15, experts say you should file now. You can boost your refund with so many deductions and credits. A surprising number of people are unaware that the tax filing deadline is quickly approaching on April 15th. In fact, a recent survey powered by Harris QuestDIY revealed that more than half of 18–24 year olds and about one in three 25–34 year olds don’t know when the deadline is and there is no reason to wait to file.

A Media Snippet accompanying this announcement is available by clicking on this link.

If you’d prefer not to handle your taxes on your own, you can have a TurboTax Full Service expert do them for you. TurboTax can help find deductions and credits you might not know about, and are often overlooked. These deductions and credits can boost your tax refund - and result in more money in your pocket!

Here’s a few deductions and credits you don’t want to miss:

• The Earned Income Tax Credit, which for a family with 3 kids is a substantial credit of up to $7,830 and can really help families. However, the IRS notes that one out of five people misses this credit when filing!
• Credits for your kids: If you’re a parent, don’t forget valuable credits for your kids like the Child Tax Credit up to $2,000, the Child and Dependent Care Credit up to $1,050 for one child and up to $2,100 for two or more kids. Day camps even count.
• Credits for college: If you paid for college for you child, yourself or your spouse, you may be able to claim the American Opportunity Tax Credit up to $2,500 for the first four years of college or the Lifetime Learning Credit up to $2,000 for even one college course.
• Credits for Energy Efficient Improvements: If you made energy efficient improvements to your home you can claim a credit of up to $1,200 for improvements like energy efficient doors and windows, up to $2,000 for solar water heaters, and up to 30% of the cost for solar panels.
• The Standard Deduction has been adjusted for inflation and is now $14,600 for single filers, $29,200 for those filing married filing jointly, and $21,900 for head of household.
  

The tax deadline is rapidly approaching, so no matter if you want to DIY or have an expert do your taxes for you, don’t wait, file now with TurboTax. 

TurboTax is a registered trademark of Intuit Inc. Learn more at: turbotax.com

Media contact:
Lisa Greene - Lewis
Lisa_Greene-Lewis@intuit.com

FAQ

What are the maximum tax credits available for families with children through TurboTax in 2025?

Families can claim up to $7,830 for Earned Income Tax Credit (3 children), $2,000 for Child Tax Credit, and up to $2,100 for Child and Dependent Care Credit.

How much is the 2025 Standard Deduction for different filing statuses?

Single filers: $14,600, Married filing jointly: $29,200, Head of household: $21,900

What energy-efficient home improvement tax credits are available for 2025?

Credits include up to $1,200 for doors and windows, $2,000 for solar water heaters, and 30% of cost for solar panels

What education-related tax credits are available through TurboTax for 2025?

American Opportunity Tax Credit offers up to $2,500 for first four years of college, while Lifetime Learning Credit provides up to $2,000 per course