Personal & Dependent Exemptions :
TCJA repealed the deduction for personal exemptions but increased the standard deduction and the deduction has been adjusted annually for inflation . For 2022 , the deduction is $ 25,900 for joint filers and $ 12,950 for single filers
TCJA replaced the dependent exemption with an increased child tax credit , doubling the maximum per child credit and extending it to higher-income families by increasing income thresholds
Note : The American Rescue Plan Act of 2021 increased the credit for one year for many taxpayers , with the intent to provide an income boost to assist low-income families