Not sure what you are plugging in to the taxcaster. If you are filing married filing jointly with an income of $20,000 then you have no tax liability at all. The standard deduction for MFJ for 2022 is $25,900. Although the child tax credit is up to $2000, the refundable portion is $1500 per child so the maximum you could get per child is $1500. (Assuming your children meet the criteria for CTC---do they have Social Security numbers? Are they under the age of 17?) You do not get a refund of $4000 based on the CTC. You will also be eligible for earned income credit but the forms are not yet ready for EIC, so wait to re-visit EIC.
And, of course, you need your W-2's or 1099's to enter into the software to get accurate results, and those will not be ready until late January. Employers have until January 31 to issue W-2's. The IRS will not issue refunds with the child tax credit or earned income credit until late February, due to the PATH act so you do not have to be in a hurry to file.
**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
