2021 Is Ending And Tax Season Is Almost Here!

The year is almost over and tax season is approaching soon. Are you ready? What do you need to know to file taxes for 2022? The IRS has provided aid to help you especially for filing related to Economic Impact Payments and advance Child Tax Credit payments. Families who received advance payments will need to compare advance child tax credit payments they received in 2021. If you received less than the amount for which you’re eligible, claim a credit for the remaining amount on your 2021 tax return. Individuals who didn’t qualify for the 3rd economic impact payment or didn’t receive the full amount may be eligible for the recovery rebate credit based on your 2021 tax information. Finally, if you didn’t itemize deductions, you may qualify to take a charitable deduction of up to $600 for married taxpayers and $300 for all other filers for cash contributions made in 2021 to qualifying organizations. #tax #payments #taxes #childtaxcredit

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Learn More:

https://www.irs.gov/newsroom/get-ready-for-taxes-whats-new-and-what-to-consider-when-filing-in-2022