Important tax filing due dates & info to help you navigate this year's filing season
The Internal Revenue Service (IRS) announced today that the tax filing season for the 2021 calendar year will officially begin January 24, 2022. Along with this announcement came warnings of what to expect during this filing season. So, what should you expect? Not much of a change from the two previous filing seasons - DELAYS. Unfortunately, the IRS is STILL navigating various operational challenges - some pre-pandemic, but majority due to the pandemic. Here are some things you can do to ensure your return does not get caught in the IRS' web of processing delays and/or tax notices:
File your return electronically instead of paper file
If you are due a refund, elect to have the refund directly deposited into your checking or savings account.
Ensure that you have provided us with ALL of your tax data.
Check your 2021 documents against your 2020 tax return.
Utilize our tax organizers or tax checklists to assist you with gathering your documentation.
You can also consistently check your Wage & Income Report per your IRS online account.
If you received an Economic Impact Payment or an Advance Child Tax Credit last year, make sure you provide the correct amount of the total amounts received, as it is needed for the preparation of your return. The IRS will reconcile these amounts back to their system and will adjust your return accordingly if there is a difference.
The IRS is mailing special letters to recipients and you can also check these amounts received per your IRS online account.
The more prepared you are, the greater the chance of avoiding any holdups. As always, we are here to help. Feel free to contact us with any questions! Happy Filing!!
ALL tax documentation must be uploaded to the client portal. This will alleviate documents being missed due to our extremely overwhelmed inbox during busy season.
Did you know that you can claim the Recovery Rebate Credit and/or the Child Tax Credit even if you are not required to file a tax return? All you have to do is file a blank tax return to claim the credit(s). Contact us today to ensure your return is correctly submitted.
Use this IRS Tool to check to see if you have a filing requirement for the tax year. Check your eligibility: Recovery Rebate Credit (also known as the Economic Impact Stimulus Payment)