Events in life, such as buying a house, attending college, or experiencing job loss, could qualify you for specific tax advantages.
Having a child or losing a spouse or dependent you support can impact your eligibility for tax benefits and your filing status. This may include qualifying for tax credits such as the Child Tax Credit (CTC), the Earned Income Tax Credit (EITC), and the Child and Dependent Care Credit.
Up to 35% of their work-related expenses can be claimed by taxpayers for the Child and Dependent Care Credit. To learn more, please visit Credits and Deductions.
Changes that affect your tax refund:
Income adjustments
Changes in deductions or credits
Filing status changes
Errors or omissions in your tax return
Changes in tax laws or regulations
Tax benefits and incentives related to energy
Check out the modifications introduced by the Inflation Reduction Act of 2022 to determine your eligibility for the updated tax credit applicable to electric vehicles bought in 2022 or earlier, as well as the new credit for clean vehicles purchased in 2023 or later.
Home energy tax credit. Tax credits are offered for a portion of qualifying expenses if you enhance your home's energy efficiency. The Inflation Reduction Act of 2022 broadened the types of qualifying expenses and increased the credit amounts available.
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