On Monday, Jan. 24, the IRS began accepting tax returns. Many parents are claiming child tax credits, and there are some mistakes they’ll want to avoid.
If you make mistakes on your return this year, the IRS says you run the risk of causing some major processing delays.
This means it could take months to process your return and issue your refund.
What are some mistakes to avoid making when filing my return with a child tax credit this year?
First, make sure you hold onto the letter the IRS is sending which outlines your own situation with child tax credits.
This help you determine what you can collect as a credit in 2022, which will likely be the second half of what you are entitled to.
Some parents opted out or did not register, so they could see a lump sum worth up to $3,600.
Make sure the amounts you’re claiming are correct.
If you report a sum of money but it doesn’t match what you received, you aren’t likely to see your refund quickly.
That mistake will need to be fixed and you run the risk of causing a delay.
Finally, make sure you file your taxes by the deadline.
The deadline for 2022 is April 18.
Maine and Massachusetts will see their deadline extended by one day and have a deadline for April 19.
The sooner you file your tax return the faster you will see your refund, especially with a correct return.
FingerLakes1.com is the region’s leading all-digital news publication. The company was founded in 1998 and has been keeping residents informed for more than two decades. Have a lead? Send it to [email protected]