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Certain Taxpayers Will See a Decrease in Tax Credits for the 2022 Tax Season
Published on January 23, 2023
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The lapse of the American Rescue Plan Act pulled back benefits for many tax programs including the child tax credit (CTC), child & dependent care credit (CDCC) and the earned income tax credit (EITC). These programs will revert back to the benefits and income guidelines available prior to the Act.
The IRS has posted some key items for taxpayers to consider before they file taxes in 2023: https://www.irs.gov/newsroom/get-ready-for-taxes-whats-new-and-what-to-consider-when-filing-in-2023.
BPLC has updated the eligibility and credit amount for the 2022 tax season in our chapter which is available for free, click here to access this chapter.
