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Get your taxes done using TurboTax
Congress and the President are known for last minute decisions, so keep an eye on the news for updates.
For now the short answer is so far the CTC for 2022 is $2000. It was increased to $3600 for newborns for 2021 only.
The maximum Child and Dependent Care Credit for 2022 is up to $3000 of qualifying expenses for a maximum credit of $1050. It is back to being a non-refundable credit, meaning it can only be applied to taxes owed on the return. In 2021 it was a refundable credit, meaning you got it whether you owed taxes on your return or not.
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‎October 26, 2022
10:42 AM