Although you may still be focused on filing your 2021 tax return, it's never too early to start thinking about next year's return. Proper tax planning requires an awareness of what's new and changed from last year — and there are plenty of tax law changes and updates taking effect in 2022 that you need to know about. One example of changes is Americans were thrilled last March to hear they were getting a third stimulus check in 2021. Those checks were for up to $1,400, plus an additional $1,400 for each dependent in your family. (Use our Third Stimulus Check Calculator to see you how much money you should have gotten.) But some people who were eligible for a third-round stimulus check didn't receive a payment or got less than what they should have received. For those people, relief was available in the form of a 2021 tax credit known as the recovery rebate credit. However, there are no stimulus check payments in 2022. As a result, there is no recovery rebate credit for the 2022 tax year.
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