Key Items Taxpayers Should Know

    We strongly encourage taxpayers to get informed about topics related to filing their federal tax returns in 2022. These topics include charitable contributions, economic impact payments, and advance child tax credit payments. For online tools, publications, and other helpful resources, taxpayers can visit IRS.gov/getready.

Changes to the charitable contribution deduction

    If you don’t itemize deductions you may qualify to take a deduction of up to $600 for married taxpayers filing joint returns and $300 for all other filers for cash contributions made in 2021 to qualifying organizations. You can check an organization’s eligibility to receive tax-deductible charitable contributions and information about an organization’s tax-exempt status on the IRS website.

Check on advance child tax credit payments

    Families who received advance payments will need to compare the advance child tax credit payments they received in 2021 with the amount of the child tax credit they can properly claim on their 2021 tax return. You should have received a Letter 6419 from the IRS last month with the total amount of advance child tax credit payments you received in 2021. Keep this form with your other tax records. Taxpayers who received less than the amount for which they’re eligible will claim a credit for the remaining amount of child tax credit on their tax return. Eligible families that opted out of the monthly advance payments can still claim the child tax credit when they file a 2021 federal income tax return.

Economic impact payments and claiming the recovery rebate credit

    Individuals who didn’t qualify for the third economic impact payment or did not receive the full amount may be eligible for the recovery rebate credit based on their 2021 tax information. If you haven’t received it yet, the IRS will be sending a Letter 6475 that contains the total amount of the third economic impact payment and any plus-up payments received. You can also create or log-in to IRS.gov online account to securely access your economic impact payment amounts.