Claim these 2021 tax breaks now, before they're gone
CBSN
The tax code saw some major overhauls in 2021 amid the pandemic. With many families and businesses struggling to stay afloat, lawmakers put in place a dizzying array of changes, including tax breaks, to provide extra help.
Some of those tax breaks, however, may not return in 2022, which means that taxpayers should be aware of what to claim and when, before time runs out. In some cases, that means taking steps before December 31 — which means the clock is ticking.
The tax code was the primary method tapped by lawmakers to deliver financial aid to families via stimulus checks and the enhanced Child Tax Credit. Both provided advanced payments on tax credits for the 2021 calendar year. That means some families could have a chance to claim additional money in early 2022 when they file their tax return — but, in some cases, only if they take steps now.
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