Maximize Your Tax Refund: New Tax Credits for 2022

💰Newly amended state legislation has expanded the refundable earned income tax credit, increasing the credit value.

💵Income thresholds for qualifying for tax credits have been raised, allowing more people to benefit.

👨‍👩‍👧‍👦The child and dependent care tax credit has increased, providing more financial support for families.

🌱Federal tax credits are available for energy-saving purchases, encouraging environmentally-friendly choices.

🚗Tax credits are also available for electric vehicles, promoting eco-friendly transportation options.

How can I increase my tax refund?

—By filing your taxes early, you can take advantage of new tax credits and potentially increase your refund.

What is the refundable earned income tax credit?

—The refundable earned income tax credit is a credit that has been expanded through newly amended state legislation, increasing the credit value.

Who qualifies for tax credits?

—The income thresholds for qualifying for tax credits have been raised, allowing more people to benefit.

What is the child and dependent care tax credit?

—The child and dependent care tax credit has increased, providing more financial support for families with dependents.

Are there tax credits for energy-saving purchases?

—Yes, there are federal tax credits available for energy-saving purchases, incentivizing environmentally-friendly choices.

00:00Newly amended state legislation has expanded the refundable earned income tax credit, increasing the credit value.

00:16Income thresholds for qualifying for tax credits have been raised, allowing more people to benefit.

00:32The child and dependent care tax credit has increased, providing more financial support for families with dependents.

01:07Federal tax credits are available for energy-saving purchases, encouraging environmentally-friendly choices.

01:24Tax credits are also available for electric vehicles, promoting eco-friendly transportation options.