Life events, such as purchasing a home, going to college or losing a job, may make you eligible for certain tax benefits. Other circumstances, such as getting married or divorced, welcoming a child or experiencing the death of a spouse or a dependent you claim, could also affect your tax benefit eligibility and filing status. These changes could mean you qualify for tax credits like the Child Tax Credit (CTC), the Earned Income Tax Credit (EITC), the Child and Dependent Care Credit and Credit for Other Dependents(ODC).

• For 2024, the CTC is worth up to $2,000 for each qualifying child. A child must be under age 17 at the end of 2024 to be a qualifying child.
• For 2024, the EITC eligible taxpayers with no qualifying children may receive up to $632.
• If your dependent is age 17 or older at the end of 2024, they may qualify for the ODC.

For the Child and Dependent Care Credit, taxpayers may receive up to 35% of their employment expenses. Visit Credits and Deductions for more details.

Energy-related credits and deductions

Clean vehicle tax credit. Review the changes under the Inflation Reduction Act of 2022 to see if you qualify for the new electric vehicles purchased in 2022 or before or the new clean vehicles purchased in 2023 or after credit.

Home energy credits. If you make energy improvements to your home, tax credits are available for a portion of qualifying expenses. The credit amounts and types of qualifying expenses were expanded by the Inflation Reduction Act of 2022.