You can file for an extension before that date, which will give you until Monday, October 16, 2023 to file. Also, special rules apply to people serving in the Armed Forces who are in a combat zone/ contingency operation or have been hospitalized due to an injury sustained in such an area. Those individuals have 180 days after they leave the area to file and pay taxes. WASHINGTON — The Internal Revenue Service announced that the nation’s tax season will start on Monday, January 24, 2022, when the tax agency will begin accepting and processing 2021 tax year returns. You can usually start filing taxes for the preceding year by the end of January. For example, the IRS began accepting tax returns for tax year 2021 on Jan. 24, 2022.
Most individuals and businesses start receiving the needed documents to fill out their tax forms in January. Therefore, tax season is usually considered to be between Jan. 1 and April 15. The IRS’s Free File program, available only at IRS.gov, allows taxpayers who made $73,000 or less in 2022 to file their taxes electronically for free using brand-name software provided by commercial tax filing companies. Free File Fillable forms, a part of this effort, is available to any income level and provides free electronic forms that people fill out and file themselves also at no cost. To speed refunds, the IRS urges people to file electronically with direct deposit information as soon as they have everything needed to file an accurate return. Individuals can use a bank account, prepaid debit card or mobile app to use direct deposit and will need to provide routing and account numbers with their return.
Tax filing season kicks off Jan. 29. Here’s what taxpayers need to know
Nobody expects you to spend three and a half months working on your taxes. Tax season is meant to provide time for employers, banks, financial services providers, and other entities to collate and distribute all of the information individual taxpayers need to file their returns. Some returns, filed electronically or on paper, may need manual review, which delays the processing, if our systems detect a possible error or missing information, or there is suspected identity theft or fraud.
- A complete list of disaster-related extensions is on their website.
- As part of the August passage of the Inflation Reduction Act, the IRS has hired more than 5,000 new telephone assistors and added more in-person staff to help support taxpayers.
- That doesn’t mean literally moving the physical location of your investments to say, Cleveland—it means thinking about how your funds are invested.
- Extensions are available but they delay only the filing of the paperwork, not the payment of any taxes owed.
- You might want to leave a little extra time to get a response if you have a tax question for an accountant during tax season, for example, compared to the timeline you might expect if you asked in August.
The tax season has a typical run time from around the start of the calendar year through mid-April, but there can be slight differences. Tax season may be slightly different for tax professionals, such as accountants, as well as tax software companies like TurboTax and H&R Block. For example, an accountant might be particularly tax season focused on helping self-employed individuals with their tax returns, in which case, their tax season might also revolve around quarterly deadlines for estimated taxes. If you’ve filed your tax return with the IRS and you claimed the child tax credit, you’re likely wondering when your tax refund will arrive.
Tax Time Guide 2022
The enhanced rate boosted the credit to as much as $3,600 per child, depending on their age. For families with two children under six, that works out to a $3,200 reduction in credits. Similarly, the tax credit for child and dependent care expenses has dropped back to $2,100 this year from its pandemic high of $8,000.