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The 3 changes you should be aware of before filing your taxes this year

Keep an eye out for new forms in 2022
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Posted at 2:37 PM, Jan 24, 2022
and last updated 2022-01-24 16:02:09-05

Tax filing season kicked off Monday with three new changes taxpayers should be aware of.

Child tax credit payments

Parents should keep an eye out for Letter 6419 from the Internal Revenue Service (IRS.)

The form will help parents and guardians accurately report how much money they received from the Advance Child Tax Credit in 2021.

Eligible families who did not receive advance payment can still receive a lump sum payment by claiming the Child Tax Credit.

Recovery Rebate Credit

If you did not receive a third stimulus check or economic impact payment, you could be eligible for the Recovery Rebate Credit.

You will need to know how much you received from the first and second economic impact payments.

Charitable contributions

Most people can receive a deduction of up to $600 for cash donations to charity.

Taxpayers do not need to itemize deductions.

Donations must have been made to a qualifying charity.

You can find more information about charitable donations here.