The deadline to file your 2023 tax return or extension is April 18, 2024, due to the Emancipation Day holiday in D.C. For Maine and Massachusetts residents, the deadline is April 19, 2024, due to Patriots' Day.

For the 2023 tax season, the standard deduction amounts have increased slightly. For 2022 tax returns, these amounts help more people avoid itemizing deductions on Schedule A.

The personal exemption for the 2023 tax year is still $0, as it was in 2020, due to the Tax Cuts and Jobs Act.

For the 2023 tax year, the top tax rate remains at 37%. Other rates vary based on taxable income levels.

There are no limitations on itemized deductions for the 2023 tax returns, continuing the trend from 2018 to 2021, as per the Tax Cuts and Jobs Act.

The AMT exemption is $75,900 for single filers and $118,100 for married filing jointly. Phase-outs begin at $539,900 and $1,079,800, respectively.

HSA contribution limits are $3,650 for individuals with single coverage and $7,300 for family coverage.

Child Tax Credit is $2,000 per qualifying child. The refundable portion is up to $1,500. The age limit for qualifying children is under 17. No advance payments were issued in 2022.

Child and Dependent Care Credit is non-refundable, with a maximum credit of 35%. Eligible expenses are up to $3,000 for one dependent and $6,000 for multiple dependents.

Starting January 1, 2023, you can get up to $7,500 for new electric vehicles and up to $4,000 for used ones. The final assembly must be in North America to qualify.

There were no stimulus payments in 2022, so no Recovery Rebate Credit is available for that year.

Without an extension, charitable deductions can only be claimed by itemizing on Schedule A.

EITC age limits revert to pre-2021 rules, excluding those 65+ and 19-24 without children. The investment income limit is $10,300.

Teachers can deduct up to $300 for out-of-pocket expenses.

The $10,200 unemployment income exclusion applied only to 2020. All 2023 unemployment benefits are taxable.

Charitable contribution deduction is $300 per individual, $600 for joint filers. The 60% AGI limit for charitable contributions is suspended.

Most forgiven student loan debt is not taxable. Employers can exclude up to $5,250 for student loan repayment from taxable wages through 2025.

Gift tax exclusion is $15,000 per recipient, $30,000 for couples. The lifetime estate and gift tax exemption is $11.7 million, $23.4 million for couples.

The Tuition & Fees Deduction is eliminated in 2022. The phase-out thresholds for the Lifetime Learning credit now match the American Opportunity credit.

Any excess premium tax credits received must be repaid when filing your tax return.

Third-party networks like PayPal must issue a 1099-K for payments over $600 for goods or services, regardless of transaction count.