What’s New for 2023 tax season

Written By Joy Adams

  • The child tax credit for dependents 17 years and under has changed to $2,000 per dependent from $3,000/$3,600 per dependent.

  • The $300/$600 charitable contribution for filers who have to use the standard deduction is longer available.

  • The Child and Dependent care deductible have been reduced to a $3,000 limit for 1 qualifying person and $6,000 for 2 or more.

  • Unemployment income is taxable.

  • The 1099-K limit remains at $20,000 for 2022 payment statements for those who receive payments thru PayPal, Venmo, CashApp, and Zelle.

  • Mileage Rate Reporting: Jan - June 58.5 cents per mile, July - Dec 62.5 cents per mile for self-employed filers.

  • No stimulus payments or tax credit payments to claim for 2022

  • First day to E-file: January 23, 2023

  • Filing Deadline: April 18. 2023

  • Extension Deadline: October 18, 2023

Joy Adams
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