Hidden ways to maximize your tax refund and find lesser-known deductions and credits

(BPT) - With the IRS tax filing deadline approaching on April 15, experts say to 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 15. In fact, a recent survey revealed that more than half of 18- to 24-year-olds and about one in three 25- to 34-year-olds don't know when the deadline is and there is no reason to wait to file.

If you'd prefer not to handle your taxes on your own, you can have a TurboTax Live tax expert do them for you from start to finish. TurboTax can help find deductions and credits you might not know about and that are often overlooked. These deductions and credits can boost your tax refund — and result in more money in your pocket!

Here are a few common deductions to keep in mind:

• Out-of-Pocket Charitable Contributions quickly add up and it isn't just about major gifts. Even small expenses, like decorations for a fundraising event or canned goods you donated to a food bank, can qualify for tax write-offs. Keep meticulous records, as they can accumulate more quickly than you might expect.
• The Standard Deduction has been adjusted for inflation and is now $14,600 for single, $29,200 for those married filing jointly, and $21,900 for head of household.
• The Child Tax Credit is worth up to $2,000 per qualifying child, and part of it may even be refundable. However, in order to claim the credit, your child must satisfy age, residency, citizenship, and other requirements — so be sure to check those details when filing.
• The Earned Income Tax Credit, which for a family with 3 kids is a substantial credit of up to $7,830, can really help families. However, the IRS notes that one out of five people miss this credit when filing!

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.

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