It’s not just the expanded Child Tax Credit. The end of the extra $1,600 for parents (or $1,000 depending on the child's age) is just one of a series of COVID relief provisions set to expire this week.

The expanded Child Tax Credit was implemented for one year as part of President Joe Biden’s American Rescue Plan, though many Democrats want to make it permanent. They plan to revisit the issue in the new year as part of the Build Back Better act, stalled after key moderate Sen. Joe Manchin (D-WV) recently said he'd vote no on the bill.

The expanded CTC is one of about 30 expiring tax provisions ending this week, according to the Tax Foundation.

“There are much larger provisions expiring this year than there would be in most years,” says Alex Muresianu, a federal policy analyst at the Tax Foundation who helped put together the list. “That's mostly because a lot of these things were sort of always intended to be temporary COVID relief.”

Congress’s Joint Committee on Taxation also tracks expiring provisions. In a document prepared at the beginning of 2021 before passage of legislation like the American Rescue Plan, the committee listed 25 expiring tax provisions this year and many more in the years ahead.

Changes to the Earned Income Tax Credit

Two provisions — expanded versions of the Earned Income Tax Credit as well as the Child and Dependent Care Credit — are also set to revert in the new year.

The expanded Earned Income Tax Credit will largely be received in American pocketbooks during the upcoming tax filing season. However, the impact of the reversion will affect Americans' tax filings in 2023.

Likewise with the Expansion of the Child and Dependent Care Tax Credit, a provision for childcare and other dependent expenses, which will also largely show up in forthcoming federal tax returns but then be dropped for 2022 returns if the reversion goes into effect. Researchers have credited the expanded credit with leading to a drop in child poverty and food insufficiency.

The impact of the Child Tax Credit reversion could be felt more immediately as the Internal Revenue Service delivered the last monthly payment in mid-December. Still, while no checks will be mailed out on Jan. 15, parents will receive some remaining Child Tax Credit funds at tax time.

The Build Back Better plan would have extended both the Child Tax Credit and the Earned Income Tax Credit for another year. However, Congress could take action in 2022 and make any changes retroactive.

Changes to charitable contributions and to research & development

Also going away next year are some provisions around above-the-line charitable contributions as well as the recent temporary suspension of some limits on individual deductions for charitable donations.