For tax year 2021, less than 2% of all individual income tax returns claimed residential energy tax credits. Those with higher incomes claimed them at higher rates: 5% of those with incomes betwe...
https://www.taxpolicycenter.org/fiscal-fact/residential-energy-credits-2021
Many middle and upper-middle income taxpayers benefit from higher education credits. For low-income taxpayers who receive education credits, the refundable portion of the AOTC can provide a large...
The foreign tax credit prevents double-taxation of foreign-source income. In tax year 2021, only 7% of individual filers claimed the foreign tax credit, while 62%...
https://www.taxpolicycenter.org/fiscal-fact/foreign-tax-credit-2021
The American Rescue Plan Act temporarily expanded the Child and Dependent Care Tax Credit (CDCTC) for 2021. The 6.2 million tax returns with CDCTC in...
https://www.taxpolicycenter.org/fiscal-fact/child-and-dependent-care-tax-credit
Number of returns claiming and amount of various tax credits, by AGI.
https://www.taxpolicycenter.org/statistics/credit-type-and-amount
Residential energy credits tend to benefit higher income groups. In 2020, taxpayers with adjusted gross income (AGI) over $100,000 reported 48% of total AGI and claimed 54% of the credit amount, ...
https://www.taxpolicycenter.org/fiscal-fact/residential-income-tax-credits-2020
In 2020, 9.4 million income tax returns (or 6% of total) claimed the Retirement Savings Contributions Credit (or Saver's Credit). This nonrefundable tax credit, enacted in 2001, matches a portion...
https://www.taxpolicycenter.org/fiscal-fact/retirement-contribution-credit-2020
Depending on their use, college scholarships may have tax consequences. But should they, given the many subsidies for college costs built into the tax code?
The Foreign Tax Credit is claimed by those paying income taxes to a foreign country and subject to U.S. tax on the same income. In 2020, 6% of individual income tax returns claimed the credit, in...
https://www.taxpolicycenter.org/fiscal-fact/2020-foreign-tax-credit-agi
Distribution of the combined tax benefits of the education credits (Lifetime Learning Credit and American Opportunity Tax Credit) and the deduction for student loan interest...