The IRS kicked off the 2022 tax filing season this week with an urgent reminder to tax professionals and taxpayers to take extra precautions this year to complete an accurate tax return and file electronically to avoid delays in return processing and speed up refunds.
As always, Partner Support encourages you to read the news release in its entirety by clicking on the News Release link, but we have listed some important highlights and reminders below.
IRS Begins 2022 Tax Season; Urges Extra Caution for Taxpayers to File Accurate Tax Returns Electronically to Speed Refunds, Avoid Delays
Excerpt Only: IRS Commissioner Chuck Rettig noted that taxpayers need to take special care this year due to several critical tax law changes that took place in 2021 and ongoing challenges related to the pandemic. “There are important steps people can take to ensure they avoid processing delays and get their tax refund as quickly as possible. We urge people to carefully review their taxes for accuracy before filing.
Avoid delays; file an accurate tax return: More than ever this year, the IRS urges people to make sure they’re ready to file an accurate tax return. An accurate tax return can avoid processing delays, extensive refund delays and later IRS notices.
Important Reminder! Earned Income Tax Credit or Additional Child Tax Credit refunds: By law, the IRS cannot issue a refund involving the Earned Income Tax Credit or Additional Child Tax Credit before mid-February, though eligible people may file their returns beginning on January 24. The law provides this additional time to help the IRS stop fraudulent refunds from being issued.
Avoid phone delays; online resources best option for help: IRS.gov is the quickest and easiest option for help. IRS assisted phone lines continue to receive record numbers of calls, more than the agency can handle with its limited resources. Avoid delays: Check IRS.gov first for refund information and answers to tax questions. Establishing an Online Account on IRS.gov can also help taxpayers get information quickly. The Online Account feature has recently been expanded to allow more people to gain access.
Don’t normally file a return? Consider filing for CTC, other valuable credits: For people who don’t normally file a tax return and didn’t file a 2020 return or use the Non-Filers tool, they can still qualify for important credits they’re eligible for, including the Recovery Rebate Credit (stimulus payment), advance Child Tax Credit or the Earned Income Tax Credit. The IRS encourages people in this group to file a 2021 tax return so they can receive all the credits for which they’re eligible.
2020 tax return still being processed? Tips to help with filing 2021 tax return: For people whose tax returns from 2020 have not yet been processed, they can still file their 2021 tax returns. For those filing electronically in this group, here’s a critical point. Taxpayers need their Adjusted Gross Income, or AGI, from their most recent tax return when they file electronically. For those waiting on their 2020 tax return to be processed, make sure to enter $0 (zero dollars) for last year’s AGI on the 2021 tax return. Visit Validating Your Electronically Filed Tax Return for more details.