11/18/2023
Changes that may affect your tax refund
Life events, such as purchasing a home, going to college or losing a job, may make you eligible for certain tax benefits. Other circumstances, such as getting married or divorced, welcoming a child or experiencing the death of a spouse or a dependent you claim, could also affect your tax benefit eligibility and filing status. These changes could mean you qualify for tax credits like the Child Tax Credit (CTC), the Earned Income Tax Credit (EITC) and the Child and Dependent Care Credit.
For 2023, the CTC is worth $2,000 for each qualifying child. A child must be under age 17 at the end of 2023 to be a qualifying child.
For the EITC, eligible taxpayers with no qualifying children may get $600 for the 2023 tax year.
For the Child and Dependent Care Credit, taxpayers may receive up to 35% of their employment expenses. Visit Credits and Deductions for more details.
Energy-related credits and deductions
Clean vehicle tax credit. Review the changes under the Inflation Reduction Act of 2022 to see if you qualify for the new electric vehicles purchased in 2022 or before or the new clean vehicles purchased in 2023 or after credit.
Home energy tax credit. If you make energy improvements to your home, tax credits are available for a portion of qualifying expenses. The credit amounts and types of qualifying expenses were expanded by the Inflation Reduction Act of 2022.