Child tax credit: For tax year 2022, parents may claim a maximum child tax credit of $2,000 for each child through age 16 if your modified adjusted gross income is below $200,000 ($400,000 if filing jointly).
This year, if you have one child or dependent, you can only get a maximum credit of $1,050 ($2,100 for two or more).
So if it happened late in the year, that may bump your 2022 income into a higher bracket, much the way a big one-time bonus might.
Ways to potentially increase your refund or reduce your 2022 tax billTax year 2022 is over, but there still may be a few things you can do now to increase the money the IRS sends you or reduces the amount you will owe.
Make an IRA contribution: You still may make 2022 contributions to an IRA up until April 18, 2023.