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Child Tax Credit

Know The First and Last Day to File Tax Return in 2022?

The IRS has stated that the 2022 tax filing season will begin on January 24, 2022. The deadline to file your 2021 tax return is April 18 for the great majority of taxpayers.

The IRS will have “time to perform programming and testing that is critical to ensuring IRS systems work smoothly” because of this commencement date. After reconciling their 2021 advance credits, taking this additional time will help make sure that qualified individuals may still collect the child tax credit. Individual taxpayers will also have more time to claim any residual stimulus funds as a recovery rebate credit when they file their taxes.

Tax Filling Is Essential

A proper return will help you avoid delays in processing, refunds, and IRS notices.

IRS Commissioner Chuck Rettig recommends taxpayers submit online with current direct deposit information to avoid any delays.

Even if you don’t usually file — or aren’t obligated to file — you should file your 2021 tax return. The filing allows taxpayers to claim a recovery rebate credit to get a tax credit from the 2021 stimulus payments, as well as claim the due child tax credit payments.

In late December 2021 and early January 2022, the IRS began delivering Letter 6419, the 2021 advance Child Tax Credit. This letter includes information that will assist you in ensuring the accuracy of your tax return. In late January, the agency will deliver Letter 6475, Your Third Economic Impact Payment, to people who received the third payment in 2021. You can also check the amount of your economic impact payment using your IRS online account.

The IRS Free File program will start on January 14th. Completed returns will be accepted and held by participating providers until they may be electronically submitted. Those who earned $73,000 or less in 2021 are eligible for the Free File program.

Deadline For Filling And Submitting Taxes

The deadline for filing and paying taxes owed is April 18, 2022; but, due to the Patriots’ Day holiday in Maine and Massachusetts, taxpayers in those states have until April 19 to file their taxes. Taxpayers who request an extension have until Oct. 17, 2022, to submit their paperwork.

 

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