Local tax preparer: 2022 tax changes negatively impact middle class

2022 tax filers beware: govt drops many covid relief tax benefits

BOWLING GREEN, Ky. – This tax season, filers are feeling the heat as some tax credits, deductions, and eligibility requirements, return to pre-pandemic levels.

Genesis Tax & Beyond Office Manager/Tax Preparer Beatrice Moore says some of her clients are already feeling the sting of the newly reduced child tax credit or child and dependent care tax credit.

“There’s a dramatic difference. So where are you might have seen $12,000 last year, [you’ll see] maybe only $6000 this year.”

Moore says these changes will particularly affect certain economic groups, “Mostly the lower income families that really do depend on the refundable tax credits.”

Also this year, tax brackets have risen this filing season despite tax rates staying the same.

Another change this tax season? The government is doing away with its $300 charitable tax deductions break.

Additionally, low-income single filers with no children will see up to $1000 less available income tax credit compared to last filing season.

“It’s not quite for the better of a lot of people. We’re still in a pandemic. We’re in an inflation when they said we weren’t supposed to have one. The housing market is absolutely ridiculous. It wasn’t supposed to be an increase on that either, and it was,” said Moore. “I feel so sorry for some of my clients because they’re reaching the IRS just to inquire about their return from the previous year because they still have not received it.”

Moore advises filers the best thing you can do is find a tax preparer who’s got your best interest at heart.