16 Income Tax Changes Coming in 2023

Less value on the earned income tax credit for

taxpayers without qualifying children

The complete value of the EITCH somehow depends on how many qualifying children you have. If you’re a taxpayer with no qualifying children, the maximum value of this credit will jump from $538 in 2022 to $1,502 in 2023 because of the American Rescue Plan Act.

However, that was a temporary boost, as for this tax year, those who are eligible for the EITCH but have no qualifying children shouldn’t expect more than $560.

If you’re curious to know if you received the EITCH or how big it was this past season, you can always check line 27a of your 2021 tax return, which is on IRS Form 1040.