IRS Alerts Taxpayers They Must Answer a New Question on Tax Forms or Face Consequences

Hmm...it's a legal requirement to report all income. When did the Biden's report all theirs?

No problem for me but I bet this causes some others to have an issue.

Remember how the Democrats kept saying they wanted to tax the rich and help the working class?

"Due to tax law changes" (under the one-party administration) "such as the elimination of the Advance Child Tax Credit and no Recovery Rebate Credit this year to claim pandemic-related stimulus payments, many taxpayers may find their refunds somewhat lower this year,” the IRS said in a press release.

Why?

"The Child Tax Credit (CTC) for 2022 tax returns has been reduced to $2,000 per child, down from the expanded amount of $3,600 for children under 6 and $3,000 for children between 6 and 17 in 2021."

And

"But for 2022, qualifying expenses have been reduced back down to $3,000 for one person and to $6,000 for two or more." (From 8,000 and 16,000, respectively).

Gosh, who is that hitting? The working class.

Personally, I have no problem with the changes. I am all for NO tax credits, loopholes, or cutouts. But don't sell me "lower taxes for the working class" and then remove working class tax breaks.