You Could Save Thousands of Dollars This 2023 Tax Season
Tax season has arrived! Between now and April 18, you should plan to file your Tax Year 2022 taxes. Follow our steps below to make sure you don’t miss out on any tax benefits for you and your family.
Claim Your Federal Family Tax Credits
- Do you have children? You may be eligible for the Child Tax Credit (CTC), which provides families up to $2,000 for each child under the age of 17.
- Do you have earned income from 2022? You may be eligible for the Earned Income Tax Credit (EITC), which provides up to $6,935 for workers raising children at home and $560 for workers who do not have children or aren’t currently raising children at home. The size of your credit will depend on your income, your marriage status, and the size of your family.
- Do you pay for child care so you can work or look for work? You may be eligible for the Child and Dependent Care Tax Credit (CDCTC), which provides up to $2,100 to help cover out-of-pocket child and dependent care expenses from 2022. This includes expenses for child care, babysitters, and summer camps.
Don’t Forget State Tax Benefits
In addition to the federal tax credits, your family may be eligible for tax benefits through your state. These benefits often mirror the federal tax credits, so if you are eligible for the federal CTC, EITC, or CDCTC, you should check to see if you may be eligible for your state’s version as well.
- 11 states have state CTCs, and 32 states (including the District of Columbia) have state EITCs. Look up your state here.
- 29 states (including the District of Columbia) have state CDCTCs or other child and dependent care tax provisions. Find out if your state provides a state version of the CDCTC here.
Get Help Filing Your Taxes
Filing taxes can be difficult and expensive, but there are several free resources available for many families.
- GetYourRefund.org can connect you with an IRS-certified volunteer who can help you file your taxes for free.
- Free tax assistance may be available through VITA and Tax Counsel for the Elderly.
- You can also get access to free tax filing software at MyFreeTaxes.com.