If you have children, you may be entitled to beneficial tax credits. There are a few credits that are specifically targeted towards parents, and can be extremely helpful when it comes to saving money or offsetting the costs of raising children.
In most scenarios, you can claim your child as a dependent, including children just born in the current tax year. The following credits are available for parents who meet the qualifications:
Child Tax Credit
Child and Dependent Care Credit
Earned Income Credit
Higher Education Credit