VK Professional Services

2022 Tax Changes

The IRS is still making changes for 2022 Tax Season!  But here are some to be aware of:

  1. An extension of the American Rescue Plan Act provision allowing taxpayers with household income 400% or more above the federal poverty line to potentially obtain premium assistance when purchasing marketplace insurance

  2. Virtual currency applied as property taxation MOSTLY

  3. When you come back from out of country and convert remaining money back to dollars you have $200 de minis (capital gain given

  4. 2022 Child Tax credit will go back to pre-covid amounts - $2000 per dependent. Extensions phased out.

  5. $4000 federal credit on Electric Vehicles *stimpulations 

More will be added as approved by the IRS...