The tax season for 2022 is expected to be a difficult one, with major delays from the IRS as tax laws change and COVID-19 spikes.
The IRS will start accepting tax returns from Americans on Jan. 24.
The IRS has been transparent with the fact that little funding from Congress on top of COVID-19 will result in a long, drawn out season.
Avoiding a delay in processing or refunds with the IRS
There are ways you can help your tax return move along in the approval process.
File electronically and choose direct deposit
The return gets to the IRS immediately, where it can then be processed.
The agency is still dealing with paper returns from 2020.
Not only is it a slower process to file by paper, but there’s always the possibility that it gets lost in the mail.
It’s also a good idea to opt for direct deposit.
By choosing direct deposit, it’ll go right into your bank account instead of having to be sent via check through the mail.
This way, you avoid the chance of losing your check in the mail.
Report all stimulus and child tax credit payments accurately
Millions of Americans receive the $1,400 stimulus payments and/or the advanced child tax credit payments.
These need to be reported accurately and the IRS is sending letters to anyone that received the payments.
If you report inaccurate information, you run the risk of experiencing a delay that could last months.
Submit your tax return as soon as possible
The deadline to file this year is April 18, 2022.
The sooner you get your taxes in, the faster the IRS will get to your return.
It’s expected that if you file your taxes on time, electronically, and correctly, you can see your refund within 21 days.