In general, taxpayers can only deduct donations to charity from their taxes if they itemize deductions, rather than take a standard deduction. Shots - Health News Poverty and uninsured rates drop, thanks to pandemic-era policies A special charitable deduction break also lapsed Pandemic legislation provided $7,200 in combined tax credits for two kids under 6 in the last tax season, but that same family is now looking at $4,000 in credits. How did the child tax credit change?įor this tax season, many families with two children under 6 years old can't count on an extra $3,200 worth of tax credits that helped them last year. "But now that's gone" for people dealing with 2022 taxes, Khalfani-Cox said. "And they got $1,400 per person on their 2021 taxes," plumping their tax refund or lowering their bill. "But a whole bunch of taxpayers actually received what's called a recovery rebate credit," Khalfani-Cox said.
and now it's goneīecause of the government response to the COVID-19 pandemic, many Americans got a $1,400 stimulus check in 2021, the third of such payments.
"And it turns out that 7 million of them were paper returns." The stimulus giveth. "The IRS told us all in late 2022 that they have something like 9 million unprocessed tax returns," Khalfani-Cox said. The other option is less fab: People who submit returns on paper are more likely to join the agency's large backlog. The IRS says people who file electronically should expect to get their refund within around 21 days if they choose direct deposit and their return has no issues.
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