Tax season: What you need to know before filing in 2023

LOUISVILLE, Ky. (WDRB) -- You can start filing your taxes on Monday but the 2023 tax season might look a little different than previous years.

According to the IRS, more than 168 million Americans are expected to file their taxes.

Experts say this year the child tax credit has gone down. Last year it was $3,600 since the increase came with President Joe Biden's American Rescue Plan.

This year, eligible parents will only receive $2,000 from the tax benefit.

Under the Inflation Reduction Act, some corporations will pay more taxes than they currently pay.

For example, under the new law, large businesses with more than one billion dollars in reported income will pay a minimum corporate tax rate of 15%.

According to the IRS, with the three previous tax seasons dramatically impacted by the pandemic, it has taken additional steps for 2023 to improve service for taxpayers.

As part of the August passage of the Inflation Reduction Act, the IRS has hired more than 5,000 new telephone assistors and added more in-person staff to help support taxpayers.

The deadline to file taxes for most Americans is set for Tuesday, April 18.

While Tax Day is typically designated as April 15, this year's deadline differs due to April 15 falling on a Saturday.