📈The standard deduction has been increased to $27,200 for married couples and $13,850 for single individuals.
🧒The child tax credit has been expanded to up to $3,600 per child.
💰Refundability has been introduced, allowing taxpayers to receive a refund even if their tax bill is lower.
📅The deadline to file 2023 returns without penalty is Monday, April 15th.
📝Consider hiring a CPA or tax preparer for assistance and advice.
What is the deadline to file 2023 tax returns?
—The deadline is Monday, April 15th. Filing after this date may result in penalties.
How much is the standard deduction for married couples?
—The standard deduction for married couples is $27,200.
What is the maximum child tax credit amount?
—The maximum child tax credit amount is $3,600 per child.
What is refundability?
—Refundability is a new feature that allows taxpayers to receive a refund even if their tax bill is lower.
Should I hire a CPA or tax preparer?
—Hiring a CPA or tax preparer can provide assistance and expert advice for a smooth filing process.
00:00The 2024 tax filing season has officially started.
00:19The standard deduction has been increased to $27,200 for married couples and $13,850 for single individuals.
01:46The child tax credit has been expanded to up to $3,600 per child.
03:00Refundability has been introduced, allowing taxpayers to receive a refund even if their tax bill is lower.
04:07The deadline to file 2023 returns without penalty is Monday, April 15th.
