The Update

Mark Your Calendars: 2022 Tax-Filing Deadlines

The IRS has released the tax-filing deadlines for 2022 along with other important information about what you should expect during the tax-filing season. Here’s what you should know:

Key Filing Season Dates

January 14: IRS Free File opens. Taxpayers can begin filing returns through IRS Free File partners; tax returns will be transmitted to the IRS starting January 24. Tax software companies also are accepting tax filings in advance.

January 18: Due date for tax year 2021 fourth quarter estimated tax payment.

January 24: IRS begins 2022 tax season. Individual 2021 tax returns begin being accepted and processing begins

January 28: Earned Income Tax Credit Awareness Day to raise awareness of valuable tax credits available to many people – including the option to use prior-year income to qualify.

April 18: Due date to file 2021 tax return or request extension and pay tax owed due to Emancipation Day holiday in Washington, D.C., even for those who live outside the area.

April 19: Due date to file 2021 tax return or request extension and pay tax owed for those who live in MA or ME due to Patriots' Day holiday

October 17: Due date to file for those requesting an extension on their 2021 tax returns

Watch for IRS letters about advance Child Tax Credit payments and third Economic Impact Payments

The IRS started sending Letter 6419, 2021 advance Child Tax Credit, in late December 2021 and continues to do so into January. The letter contains important information that can help ensure the return is accurate. People who received the advance CTC payments can also check the amount of the payments they received by using the CTC Update Portal available on IRS.gov.

Eligible taxpayers who received advance Child Tax Credit payments should file a 2021 tax return to receive the second half of the credit. Eligible taxpayers who did not receive advance Child Tax Credit payments can claim the full credit by filing a tax return.

The IRS will begin issuing Letter 6475, Your Third Economic Impact Payment, to individuals who received a third payment in 2021 in late January. While most eligible people already received their stimulus payments, this letter will help individuals determine if they are eligible to claim the Recovery Rebate Credit for missing stimulus payments. If so, they must file a 2021 tax return to claim their remaining stimulus amount. People can also use IRS online account to view their Economic Impact Payment amounts.

Both letters include important information that can help people file an accurate 2021 tax return. If the return includes errors or is incomplete, it may require further review while the IRS corrects the error, which may slow the tax refund. Using this information when preparing a tax return electronically can reduce errors and avoid delays in processing.

Tips To Make Filing Your Taxes Easier

To avoid processing delays and speed refunds, the IRS urges people to follow these steps:

• Organize and gather 2021 tax records including Social Security numbers, Individual Taxpayer Identification Numbers, Adoption Taxpayer Identification Numbers, and this year's Identity Protection Personal Identification Numbers valid for calendar year 2022.
• Check IRS.gov for the latest tax information, including the latest on reconciling advance payments of the Child Tax Credit or claiming a Recovery Rebate Credit for missing stimulus payments. There is no need to call.
• Set up or log in securely at IRS.gov/account to access personal tax account information including balance, payments, and tax records including adjusted gross income.
• Make final estimated tax payments for 2021 by Tuesday, January 18, 2022, to help avoid a tax-time bill and possible penalties.
• 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.
• File a complete and accurate return electronically when ready and choose direct deposit for the quickest refund.

The IRS is still under a backlog due to the pandemic. Make sure you file early to get your return as soon as possible. The IRS also advises that you file electronically and choose the direct deposit option to get your money at a quicker rate.

For more tax-filing tips and access to tax preparation discounts visit our Tax Resources page.

This is article is educational in nature and not intended as tax advice. Please consult a tax professional.