Morrison Sund PLLC

2022 Tax Season Guidance

Here are some helpful tips to be aware of before filing your 2021 income tax returns:

·Starts Earlier: This year’s tax season is starting over two weeks earlier than last year to allow the IRS more time to process returns. The 2022 tax season starts Monday, January 24, 2022, and ends Monday, April 18, 2022.

·File Electronically: The IRS is experiencing a combination of staffing shortages and budget cuts which will slow down the processing of returns. It is important to file your returns electronically, if possible, to avoid inevitable delays in the processing of paper returns. If you file electronically, your returns should be processed in a matter of days or weeks. If you file paper returns, it could take upwards of a year to process.

·Economic Impact Payments & Child Tax Credits: If you received either of these Covid-19 relief payments in 2021, make sure you account for them properly on your tax returns. The IRS will be sending out letters to those that received these payments to show the correct amount received.

·Register at IRS.gov: A great way to track the processing of your tax returns and find transcripts of old returns is to register with the IRS at IRS.gov.

·Avoid Scams: The IRS will not call you! If you receive calls from anyone asking for your social security number or pretending to be the IRS, hang up right away. The IRS will mail you correspondence – they will not email you, text you, or call you. Check your account at IRS.gov if you question whether any correspondence is real.