01/21/2023
Important changes for this tax season that will affect your refund‼️
🔸No additional stimulus payments. There were no new stimulus payments during 2022, so do not expect any new payments in your tax refund
🔸Tax Credits returning to 2019 levels (pre-pandemic) include: Child Tax Credit and the Earned Income Tax Credit
▪️Those who received $3,600 per dependent in 2021 for CTC, will now get $2,000
▪️EITC, taxpayers with no children who received up to $1,500 in 2021 will now get $560
▪️The Child and Dependent Care Credit returns to a maximum of $2,100 instead of $8,000 in 2021
🔸Sick Leave Pay for Covid Relief
This credit was especially helpful for the self-employed and entrepreneurs but unfortunately it expired 2021 tax year and is no longer available.
Don’t fret there are still credits out there that can help your tax situation. Give us a call so we can find them for YOU!!
☎️ 832-359-2878
Totalfinancialsvc.com
