2025 Year-End Recap What's Different About the Child Tax Credit?
The 2025 tax season is here, and it's a big one. Here's a rundown of the key changes and ways to save this year, including an increase in the multi-child credit, an expanded home improvement savings deduction, and a new pool fee deduction. Summary Beginning with the 2025 tax year, the credit for families with multiple children will increase by $100,000 per child, and new deductions for home improvement savings and gym memberships will be available. The limit for hometown donations has also been raised to 20 million won, opening up more tax savings opportunities. Tax year 2025 changes at a glance This year's tax season is different from previous years. The government's response to the declining birthrate and...