Tax filing season with the IRS has begun, so now it’s time to really prepare to file if you haven’t already.
The IRS is expecting an incredibly large amount of tax returns this year.
Over 160 million are expected in all.
Programming for the agency has been updated, which will allow people to claim the correct amount of child tax credit.
Here are 5 major tips from the IRS to make filing your taxes easier, and processing them faster
E-file your return
If you do not want to see more delays, file your return electronically.
Choose direct deposit as your form of payment for receiving a refund.
Using software to file your taxes helps flag any mistakes there may be before the IRS finds them and delays your processing.
This will also help you avoid losing your return or refund in the mail.
Keep all documents you are sent
Every year millions of people keep their W-2 for tax record purposes, but this year there are letters from the IRS you’ll want to keep.
First, is Letter 6419.
This details what you were sent in advance for child tax credit payments and will help you claim the correct amount when you file for 2022.
Then Letter 6475 will help you to determine if you should have received a stimulus check.
If the answer is yes, this letter will guide you on how to claim a Recovery Rebate Credit.
Use resources online before contacting the IRS
Wait times are still sky high for the IRS.
This means if you have a question, it’s a good idea to check the IRS website before you decide to wait on hold.
How to file if you still haven’t had your 2020 return processed
If you are still waiting on your 2020 return, be sure to put $0 for last year’s AGI.
If you’re a non-filer and used the tool to get the advanced child tax credit payments, put $1.
Everyone else must put their correct AGI.
Use free things if you need to
The IRS offers qualifying taxpayers free filing options through their website.
If you make under $73,000 you can use IRS Free File.
This gives you free tax prep help through a volunteer program.
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