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Another big wave of relief came in the form of the expanded Child Tax Credit — at up to $3,600 per child for virtually all working families, it was the biggest credit of its kind in history.
The bank or financial institution that holds your savings accounts—or CDs, or money market funds—should send you a form 1099-INT detailing the interest you earned over 2023.
TurboTax normally releases its new versions as soon as the IRS completes revisions to the forms and approves the TurboTax versions, usually late in the tax year. The process is similar for states that collect income taxes. In 2001, TurboTax saved financial institution passwords entered by users to servers at Intuit and the home computer. [16]
$14,600 (up $750 from 2023) Head of household. $21,900 (up $1,100 from 2023) Married filing jointly. ... Form 1098-T is a tuition statement for higher education expenses.
The latest data from the Internal Revenue Service (IRS) agency shows that the total amount refunded to taxpayers by IRS through 2023 will be approximately $198.9 billion, which is $23.5 billion less than in 2022. That equates to an average refund of $2,878 — or $297 less per person than last tax season. [5]
Review your 2023 income tax return. ... Watch for new 1099-K forms. If you were paid for goods and services you provided through payment apps or via online marketplaces like Venmo, CashApp, Airbnb ...