2022 Tax Filing – Starts Jan 24 and Overdue Refunds Expected

Prepare your return, file it and you will have a better chance of receiving your refund within 21 days of electronic filing with direct deposit.

Foto: Mikhail Nilov / Pexels

The Internal Revenue Service (IRS) announced that the tax filing season will start on Monday, January 24, 2022. From that date, the agency will begin to accept and process the declarations for fiscal year 2021.

The set date gives the IRS time to perform programming and testing on their systems. to ensure eligible individuals can claim the appropriate amount of the Child Tax Credit, after comparing your 2021 advance credits, as well as claiming any remaining stimulus money as a Recovery Refund Credit when they file their 2021 tax return.

The IRS recalls that teams have been working tirelessly for the past few months and that the pandemic continues to create challenges, so it asks taxpayers Anticipate to ensure your tax return and refund are not delayed in processing.

This is especially important for people who received advance payments of the Child Tax Credit or Economic Impact Payments (American Rescue Plan stimulus payments) in 2021, as they will need the amounts of these payments when preparing their tax return. The IRS notes that it is sending special letters to the recipients and also notes that they can verify the amounts received on IRS.gov.

Chuck Rettig, IRS Commissioner noted that they continue to work on processing taxes from last year and that in 2022 will continue to reduce inventory of individual tax returns from the previous year that have not been fully processed. As of December 3, 2021, the IRS has processed nearly 169 million tax returns, the official said.

“We want to deliver as much as possible while protecting the health and safety of our employees and taxpayers.”emphasized the IRS spokesperson.

The agency recalls that like last year, there will be people who file tax returns who, although they are not required to file them, must file a 2021 return to claim a Recovery Refund Credit to receive the tax credit for payments of 2021 stimulus or reconcile advance payments of the Child Tax Credit. People who do not normally file a return They could also receive other credits.

With respect to deadline to comply with the tax obligations of 2021, this will be April 18. And for taxpayers who request an extension, they will have until Monday, October 17, 2022 to present it.

The IRS anticipates that most taxpayers will receive their refund within 21 days of e-submission if they choose direct deposit and there are no problems with your tax return. The IRS urges taxpayers and tax professionals to file electronically to avoid processing delays. Individuals should avoid filing paper returns whenever possible.

Important dates taxpayers should be aware of for this year’s tax filing season:

January 14

Taxpayers can begin filing returns through IRS Free File partners and they will be transmitted to the IRS beginning January 24. Tax software companies are also accepting tax returns in advance.

January 18

Estimated tax payment due date for the fourth quarter of fiscal year 2021.

January 24th

The IRS begins tax season 2022. 2021 individual tax returns begin to be accepted and processing begins.

January 28

Earned Income Tax Credit Awareness Day to raise awareness of the valuable tax credits available to many people.

April 18th

Due date to file the 2021 tax return or request an extension and pay the tax owed due to the Emancipation Day holiday in Washington, DC, even for those who live out of the area.

April 19th

Due date for filing the 2021 tax return or requesting an extension and paying the tax owed for those living in MA or ME due to the Patriot Day holiday.

October the 17th

Expiration date to file for those requesting an extension on their 2021 tax returns.

You may also like:

The IRS reminds you to make your final 2021 quarterly tax payment before January 18 or you could be fined

You could receive a lower tax refund this year if you received the child tax credit

The IRS sends informational letters to file taxes to beneficiaries of the Child Tax Credit and asks that they not be thrown away

Reference-eldiariony.com

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