Congratulations on the new baby!
Depending on your personal circumstances, a new baby in the family could help to get various tax benefits including (but not limited to):
- Possible change in filing status to head of household
- Claiming the Child Tax Credit
- Claiming the Child Dependent Care Credit
- Claiming the Earned Income Credit
The extent of the benefits that you will get depends on your personal circumstances such as marital status, income, etc. Please read through the resource in the link below for additional information about the impact of the birth of a child on your income taxes.
https://turbotax.intuit.com/tax-tips/family/birth-of-a-child/L26LBBTkd
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