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    Tax Law Changes for 2023 Tax Returns

  • Federal income tax filing deadline

    For tax year 2023, the IRS's deadline to file your taxes is April 15th, 2024.

    If you live in Maine or Massachusetts, you have until April 17, 2024, because of the Patriots' Day and Emancipation Day holidays.

    If you file your tax return early and owe the IRS money, you will still have to send your payment in to the IRS by this date to avoid any penalties.

  • Qualifying widow(er) receives a new name

    As of tax year 2022, the filing status qualifying widow(er) is now called qualifying surviving spouse. The rules for the filing status have not changed. The same rules that applied for qualifying widow(er) apply to qualifying surviving spouse.

  • Delayed refunds for returns claiming certain credits

    The Protecting Americans from Tax Hikes Act of 2015 (the PATH Act), was enacted on December 18, 2015. The PATH Act contains several changes to the tax law that affect individuals, families, businesses and help safeguard against tax fraud.

    The PATH Act mandates that the IRS not issue a refund on tax returns claiming the Earned Income Tax Credit or Additional Child Tax Credit until Feb. 15. The additional time helps the IRS stop fraudulent refunds from being issued to identity thieves and fraudulent claims with fabricated wages and withholdings.

    This applies to the entire refund, not just the portion associated with these credits.

  • Standard deductions

    For 2023, the new law sets the standard deduction at:

    • $27,700 for married individuals filing joint returns and surviving spouses
    • $20,800 for heads of households, and
    • $13,850 for single taxpayers as well as married individuals filing separately.
  • Additional Child Tax Credit

    For 2023, the maximum additional child tax credit amount has increased to $1,600 for each qualifying child.

  • Earned Income Credit

    The earned income credit applies to working taxpayers that have earned income below certain thresholds. The qualification threshold depends on the number of persons in each family. The thresholds in 2023 to qualify for this credit include:

    • No Children:  earnings must be less than $17,640 or $24,210 if married filing jointly.
    • One Child:  earnings must be less than $46,560 or $53,210 if married filing jointly.
    • Two Children:  earnings must be less than $52,918 or $59,478 if married filing jointly.
    • Three or More Children:  earnings must be less than $56,838 or $63,398 if married filing jointly.

    The tax credits themselves have also increased in 2023, with the maximum credits that can be received as indicated below:

    • No Children:  $600
    • One Child:  $3,995
    • Two Children:  $6,604
    • Three or More Children:  $7,430
  • Alternative Minimum Tax

    The Alternative Minimum Tax (AMT) exemption in 2023 is $81,300 for individual filers ($126,500, for married couples filing jointly).

  • Mileage deduction rates
    Category Rate
    Business Miles 65.5 cents per mile
    Charitable Services 14 cents per mile
    Medical Travel 22 cents per mile

    Health Insurance

  • Health Insurance Premium Tax Credit

    If individuals or families purchase health insurance through the Health Insurance Marketplace, they may qualify for the new Health Insurance Premium Tax Credit. To qualify for the credit, your household income must fall between 100% and 400% of the federal poverty line, you may not be claimed as a dependent on any other taxpayer's return, and (if married), you must file jointly. In the case of spousal abuse or abandonment, this requirement may be waived.

  • What is Advance Premium Tax Credit?
  • What is the Health Insurance Marketplace?
  • What are forms 1095-B, 1095-C & 1095-A?