NEW Tax Credit

The IRS updated and added a few tax credit that can help you maximize your refund:

The standard deduction for 2022 is higher

Income tax brackets are also higher in 2022

The child tax credit benefits has returned to normal

Fewer filers will qualify for the Child Care and Dependent Tax credit

If you don't have kids, it's harder to qualify for the Earned Income Tax credit this year

If your student loans were forgiven, you may owe state taxes

You have to report your crypto and NFT transactions

PayPal, Venmo and other third-party apps will report your payments to the IRS

Retirement contribution limits increased

Temporary charitable donation deductions have ended