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The title of this article is When Can You Start Filing Taxes for 2022?

  • This article was posted on Sep 26, 2022
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  • The author of this article is MC Tax Relief
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It's critical to file your tax returns by the deadline to avoid unforeseen fines and interest. Early filing can hasten the arrival of tax returns in your bank account. Although you might wish to file as soon as the new year starts, you won't be able to start until your employers and vendors bring you the required documentation. In reality, the IRS won't start accepting returns until late January or early February.

IRS problem solvers can help you with any of your tax problems.

When are taxes due?

Typically, April 15th of each year is Tax Day. However, for 2022, taxes must be online or postmarked by April 18, 2022, at midnight. The additional time is due to Good Friday being observed on April 15th, a holiday. For more information on the tax filing deadline, go to When Are Taxes Due?

When can I file taxes in 2022?

Even though the majority of tax returns must be electronically filed by April 18, 2022, you can do so earlier. When taxpayers should have gotten their final paychecks for the 2021 fiscal year, which should have been between January 15 and February 1, 2022, the IRS will most likely start accepting electronic returns. When exactly you can file will be announced on the IRS website.

Will my stimulus check affect my tax return?

In 2021, a lot of households received Economic Impact Payment (EIC) checks, commonly known as stimulus checks. This payment was made separately to assist households who had been adversely impacted by the coronavirus pandemic. Although it was a payment in advance of a federal tax credit due in the tax year 2021, your refund was not paid in advance. You overpaid your taxes for the year, which is why you are receiving a refund.

This credit had to be declared on the 2021 tax return because it was pre-paid. After receiving the stimulus cheque for 15 days, taxpayers were supposed to receive a receipt. It won't be taxable income even though you must provide the information in your tax return. This additional sum of money is a tax credit that you qualified for and received.

Will payments in advance for child tax credit affect my tax return?

You will need to balance the payments on your tax return in 2022 if you were eligible for and received advance Child Tax Credit payments in 2021.

You ought to have gotten Letter 6419 from the IRS in January 2022 informing you of the entire amount of advance Child Tax Credit payments you got in 2021. You can help balance the amounts by using this letter, your bank accounts, or online at irs.gov to view your advance Child Tax Credit payments.

Compare the total advance Child Tax Credit payments you got in 2021 with the total Child Tax Credit you are eligible to claim on your 2021 tax return when you file your taxes.

You may claim the remaining portion of your child tax credit on your tax return if it exceeds the total of your advance child tax credit payments (what you are eligible for).

If you got more in advance child tax credit payments than you were eligible for in 2021, you might be required to pay back some or all of the excess to the IRS. There may be some repayment safeguards.

How long does a tax return take?

The time it takes to prepare your tax return for the tax year 2021 can be less than 30 minutes. But the question of when to expect a refund is raised by taxpayers. According to the IRS, the majority of returns are processed in less than 21 calendar days. If you applied for the Earned Income Tax Credit (EITC) or Additional Child Tax Credit, your tax refund may take longer to process (ACTC). Even filing earlier won't speed up payment for those who qualify for these credits because the IRS doesn't publish refunds for these credits until mid-March.

The way you select to get your return will also affect how quickly you receive it. It takes less time to choose direct deposit than to have a check mailed to you. Even yet, the IRS advises taxpayers that during tax season, it can take your financial institution a few days to post the deposit.

A tax return processing delay may be caused by:

• Tax return errors
• Needs further review for deductions and credits
• An incomplete return
• Claims EITC or ACTC
• You were affected by fraud or theft
• Form 8379, Injured Spouse Allocation, is also included (may take up to 14 weeks to process)

You can get in touch with our certified tax resolution specialist at MC Tax Relief for any tax problem help.