- As soon as you have all the necessary paperwork to begin the process, you can start filing your taxes. The IRS typically starts accepting and processing tax returns during the last week of January. In 2021, however, that date was set to Feb. 15 so that the IRS had time to account for tax-related changes cause by the global pandemic. 8
When can I file my 2020 tax return?
Even though taxes for most taxpayers are due by April 15, 2021, you can e-file (electronically file) your taxes earlier. The IRS likely will begin accepting electronic returns anywhere between Jan. 15 and Feb. 1, 2021, when taxpayers should have received their last paychecks of the 2020 fiscal year.
When can I start filing taxes for 2021?
So, when is the tax deadline? The IRS officially began accepting 2021 tax returns on Jan. 24, but don’t fret if you haven’t filed yet: Many of us haven’t yet received all the documents we need. The general deadline for filing your income tax returns is Monday, April 18. 1
What is the earliest you can file your taxes 2022?
IRS will start accepting income tax returns on Jan. 24, 2022. * = IRS may delay start of tax season by a week or so. ** = Returns with EITC or CTC may have refunds delayed until March to verify credits. 3
Should I wait to file my taxes 2021?
Taxpayers generally will not need to wait for their 2020 return to be fully processed to file their 2021 tax returns and can file when they are ready.
Will tax refunds be delayed in 2022?
The good news is that the federal and state income tax returns filing process should be closer to normal, as well. Although the last two tax filing seasons were significantly impacted by the Covid-19 pandemic, and the IRS extended both deadlines, the IRS did not extend the tax filing deadline for 2022. 3
When can I file my 2021 taxes in 2022?
Tax season 2022 has arrived. The Internal Revenue Service starts accepting and processing 2021 tax returns Monday, Jan. 24, 17 days earlier than last tax season’s late start of Feb. 12. However, you might not have everything you need in order to file yet. 5
Can I file my taxes now 2022?
Taxpayers Should File Early and Electronically. In IR-2022-08, the IRS encouraged early return filing as soon as possible and to file electronically to help minimize the effects of potential tax season problems. The IRS wants fast and accurate, pushing cost onto the taxpayer. 21
When Can You Start Filing Taxes 2022
Tax Software that is widely used Overall, the best tax software is 360 Overall Rating$59 and UpBase Fee360 Overall Rating See the Review for the Free Version of the Mobile App. Tax Software Filing Options That Work the Best 360 Overall RatingBase Fee$49.99 and Up 360 Overall Rating App for Mobile Devices in Free Version See Review for further information. 360 Overall RatingBase Fee$17.95 and Up 360 Overall Rating See the Review for the Free Version of the Mobile App. It is important to file your tax returns on time in order to avoid the imposition of unnecessary fines and interest.
You may want to submit your taxes as soon as possible in January, but you’ll need to wait for the proper documents to arrive from your employers and vendors before you can get started on your tax return.
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Tax Day is usually held on the 15th of April of each year. Taxes must, however, be mailed or electronically received no later than midnight on April 18, 2022, in order to be considered for 2022. The extra time is due to the fact that April 15th is Good Friday, which is a holiday. For further information on the tax deadline, please see When Are Taxes Due?
Despite the fact that most people’s taxes are due on April 18, 2022, you can e-file (or electronically submit) your taxes sooner. The Internal Revenue Service is expected to begin taking electronic returns somewhere between January 15 and February 1, 2022, when taxpayers should have received their final paychecks for the fiscal year 2021. The Internal Revenue Service will publish on its website when you may submit your tax return.
Compare the Best Tax Software
Best Tax Software for the Year 2022
In 2021, a large number of families got an Economic Impact Payment (EIC) check, which is also known as a stimulus check. This cheque was part of a separate payment to assist homes who had been badly affected by the Coronavirus epidemic in the United States. In spite of the fact that the payment was an advance on a federal tax credit for the tax year 2021, it did not constitute a prepayment of your refund. Your refund has been processed because you overpaid your taxes during the tax year in question.
It should have been possible for taxpayers to acquire a receipt 15 days after receiving the stimulus payment.
As a tax credit, this is an additional sum of money that you became eligible for and got as a result of your eligibility.
For example, if you were eligible for and received advance Child Tax Credit payments in 2021, you will need to balance the payments on your tax return the following year when you submit your taxes in 2022. You should have received Letter 6419 from the Internal Revenue Service in January 2022, informing you of the total amount of advance Child Tax Credit payments you received throughout the year 2021. You can utilize this letter, your bank statements, or the IRS website to view your advance Child Tax Credit payments in order to assist you in reconciling the amounts.
If the amount of your Child Tax Credit (what you qualify for) is larger than the entire amount of your advance Child Tax Credit payments, you can deduct the difference from your tax return and claim the remaining amount of your Child Tax Credit.
It is possible that some repayment safeguards will apply. Please see IRS.gov for further information on reconciling your advance Child Tax Credit payments.
“Determining whether or not you have to submit your taxes depends on your age, your income level, and your filing status,” explains Christopher Jervis, an enrolled tax agent at Lone Wolf Financial Services LLC. While the vast majority of people are required to file taxes, there are several exclusions, primarily based on their income level. In the example above, if you are 40 years old and unmarried, and you earned a total of $5,000 in the previous tax year, you are exempt from having to submit a tax return.
These thresholds had not been finalized at the time of this evaluation, which means they were subject to change.
If you live in a state where income taxes are collected, you should seek information from your state’s tax department.
Preparing your tax return for the tax year 2021 might be completed in less than 30 minutes in some cases. Taxpayers, on the other hand, want to know when they may anticipate their return. According to the IRS, the vast majority of returns are processed in fewer than 21 calendar days. If you applied for the Earned Income Tax Credit (EITC) or the Additional Child Tax Credit, it may take longer for your tax return to be processed (ACTC). Even filing early will not result in a faster payout for individuals who qualify for these credits because the IRS will not publish refunds for these credits until mid-March.
Making the decision to use direct deposit is more convenient than having a cheque delivered to you.
Things that might cause a snag in the preparation of a tax return include as follows:
- Errors in tax returns
- A return that is not complete
- One that requires more scrutiny for credits and deductions
- You have been the victim of theft or fraud
- EITC or ACTC claims are made
- There’s also Form 8379, Injured Spouse Allocation (which might take up to 14 weeks to process).
It is essential that you have all of the necessary information and documentation in front of you while filing your tax return. H R Blockprovides a short checklist that you can follow to ensure that you sit down to complete your tax return with everything in order. This helps to accelerate the filing process and decreases the likelihood of mistakes, which can result in delays in receiving reimbursements. You’ll need to provide your personal information as well as that of your spouse. Your legal name, social security number, and date of birth are all examples of personally identifiable information.
- Make certain that you have all of the information you need regarding any economic impact payments (EIPs) that have been paid to you using your personal information.
- Check to see if you have any information on any advance Child Tax Credit payments as well.
- Along with this, you’ll need detailed information on your dependents.
- It is necessary to have access to an adult dependant’s income as well if you have them as a dependent.
- Starting with W-2 or 1099 income, we may move on.
- A Schedule K-1, which is used to record revenue for business owners, may also be available.
- Rent from rental properties, money from retirement plans, savings, and investments are all examples of sources of income.
- While many persons with few deductions are well served by taking the standard deduction, those with a large number of deductions are frequently better off if they itemize their deductions on their taxes.
Mortgage interest, charity contributions, medical costs, and health insurance premiums are all eligible for deductions. Childcare and educational expenditures are also taken into consideration in this calculation.
If you fail to submit your taxes on time, you can be subject to severe fines. According to Mike D’Avolio, a certified public accountant and senior tax analyst at Intuit, these are some of the examples.
- Interest: If you fail to pay your taxes by the due date, the Internal Revenue Service will charge you interest. This is true even if you have been given an extension to file your paperwork. As a result, you’ll be required to pay interest on penalties starting from the due date of your return (including extensions). Penalty for late filing: The late filing penalty is 5 percent of the tax owed for each month or part of a month that the tax is not paid after the due date, up to a maximum of 25 percent of the tax owed. The penalty is limited to a maximum of 25 percent of the amount of tax owed. If you file your return more than 60 days late, you will be subject to a minimum penalty of $435 or the amount of any tax you owe, whichever is greater. In the event that you have an acceptable justification, you may be exempt from this penalty. Late Payment of Taxes: If you fail to pay your taxes on time, you will be assessed a penalty equal to.5 percent of the outstanding amount for each month or part of a month that the tax is not paid on time. The penalty might be as much as 25 percent of the amount that has not been paid. It applies to any unpaid tax on the return that has not been remitted. It should be noted that this penalty is in addition to any interest costs incurred as a result of late payments.
Generally, failing to submit your taxes will result in penalties and fines, but not jail time in the majority of situations. If you are found guilty of tax evasion or have failed to declare all of your profits to the Internal Revenue Service, you might face jail time, according to Josh Zimmerman, CPA and founder of Westwood TaxConsulting. He stated that tax evasion is a crime that may result in a sentence of up to five years in jail. You can potentially be sentenced to up to a year in prison for each tax return that you voluntarily fail to file.
“The Internal Revenue Service makes it clear that you cannot be imprisoned for failing to pay your taxes on time, but you must still file and work with the IRS on a payment plan,” says Jason Field, a financial advisor at Van LeeuwenCompany LLC.
The necessity to submit a tax return is determined by one’s income rather than one’s chronological age. You might be obliged to submit a return whether you’re a baby or 80 years old, according to Rives, as long as you earn enough money to reach any of the income criteria that trigger filing requirements. If you’re a retiree who just receives Social Security benefits, you probably won’t have to file a tax return since Social Security benefits (when combined with other income) are typically not taxable under the Internal Revenue Code.
The amount of money you may earn without having to file taxes is determined by your tax filing status and your age. A draft of IRS Publication 501 states that you are exempt from filing taxes in 2021 if you are unmarried, under the age of 65, and earned less than $12,550 in income. Please keep in mind that these figures were not officially released at the time of writing this review. For further information, please see our section on Do I Have to File Taxes? at the end of this page.
Form 4868 (Application for Automatic Extension of Time to File U.S. Individual Income Tax Return) must be submitted by April 18, 2022, or the date that corresponds to your specific tax deadline, whichever is later. You can extend your tax filing deadline by six months, up to and including October 15, if you apply for a tax extension. “The extension will only prolong the time you have to submit your taxes, not the time you have to pay them,” Jervis explains. In the event that you owe or anticipate that you may owe a payment, it will be payable on the usual due date, prior to the extension.
Check with your state’s tax department for information on how to file an extension for your state taxes. The majority of states adhere to the federal tax extension regulations.
More information about tax software and submitting your taxes may be found in the following publications:
Best Tax Software of 2022
See our other guides for comparisons and recommendations on a variety of different items and services:
Why You Can Trust Us: 10 Tax Software Researched
Check out our other guides for product comparisons and recommendations on a variety of other items and services:
When Can You File Your Taxes This Year?
The sooner you file your tax return, the sooner you will get any refunds that are owed to you, if you qualify. That is one of the reasons why some people want to file their tax return as soon as feasible. The Internal Revenue Service (IRS) will begin collecting 2021 tax returns on January 24, 2022, this year. That’s a significant improvement from last year, when you had to wait until the middle of February to begin your taxes. In the event that you have a burning desire to file your tax return as soon as possible and earned $73,000 or less in 2021, you can take advantage of the IRS’s Free Fileprogram to file your return as early as January 14.
In addition, some tax preparation software businesses and tax experts may receive or prepare tax returns before January 24 and keep them until the Internal Revenue Service officially begins taking submissions.
Due to the fact that April 15 is a federal holiday in Washington, D.C.
As a result of the Patriots’ Day holiday observed in Maine and Massachusetts, residents of both states will get an additional day to file their federal tax returns – until April 19.
Who Must File a Tax Return?
It is not mandatory for everyone to file a tax return. In the event that your income falls below a specific threshold (see the table below), you are not needed to file a tax return since you will not owe any tax to the government.
Federal Tax Return Filing Requirements (2021 Tax Year):
|Filing Status and Age at End of 2021||Income Required to File 2021 Return|
|Single; Under 65||$12,550|
|Single; 65 or Older||$14,250|
|Married Filing Jointly; Both Spouses Under 65||$25,100|
|Married Filing Jointly; One Spouse 65 or Older||$26,450|
|Married Filing Jointly; Both Spouses 65 or Older||$27,800|
|Married Filing Separately; Any Age||$5|
|Head of Household; Under 65||$18,800|
|Head of Household; 65 or Older||$20,500|
|Qualifying Widow(er); Under 65||$25,100|
|Qualifying Widow(er); 65 or Older||$26,450|
However, even if your income is below the appropriate level, you may still choose to submit a tax return for the year 2021 regardless of your circumstances. For example, if you did not get a third stimulus check or received less than what you should have gotten, you will be required to file a tax return in order to claim a recovery rebate credit. There may also be other tax credits that are only accessible if you submit a return, such as the ones listed below, which are:
- Earned income credit
- Child tax credit
- American Opportunity credit
- Credit for federal tax on gasoline
- Premium tax credit
- Health coverage tax credit
- Earned Income Credit
- Child Tax Credit Credits for sick and family leave, as well as a credit for child and dependent care
Last year, if you received monthly child tax credit payments, you’ll need to reconcile those payments with the total amount of credit that you’re really eligible to claim this year.
(Some persons may even be obliged to repay all or a portion of the monthly installments if they got an excessive amount of money.)
When Will Tax Refunds Arrive?
If you are expecting a federal tax refund, you may be able to get your money in as little as three weeks from the IRS. In the past, the Internal Revenue Service (IRS) has issued more than 90 percent of refunds in fewer than 21 days. When e-filing your 2021 tax return, make sure to pick the direct deposit payment method to expedite the refund process. That is the most expedient method. Paper returns and checks cause a significant amount of time to be wasted. If you claim the earned income tax credit or the supplementary child tax credit, however, you should not expect to get your refund until mid-February.
Moreover, this applies to the whole reimbursement, not just the amount that corresponds to the credits.
When Can You File Taxes?
The majority of taxpayers are aware that the filing season for tax returns begins in January, but many are unsure of the actual date. As a result, the question “When do you have to submit your taxes?” inevitably arises. Continue reading for the answer to the question “When will I receive my tax return?” as well as other information on the IRS refund procedure.
“When Can I File My Taxes?”
Each year, the Internal Revenue Service (IRS) makes a notification in early January indicating the first day to submit taxes for the previous year. Typically, the formal deadline for filing taxes is in the middle to late of the month of January. Update as of January 2021: The Internal Revenue Service said that it will begin processing tax returns on February 12. Are you concerned about having to wait weeks for your refund? We can prepare your taxes right away, and if you file with Block, you may be eligible for aRefund AdvanceDisclaimer number109.
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“When Will I Get My Tax Return?”
Technically speaking, you do not receive your tax return. You will be provided with forms that will assist you in completing your tax return. In addition, if you overspend your taxes, you will receive a tax refund from the IRS.
“How Can I File My Taxes?”
The Internal Revenue Service accepts tax returns filed in one of two ways: An estimated 88 percent of individual tax returns are submitted electronically each year, according to the IRS. The filing of a tax return by a tax professional at a H R Blocktax office, through the use of H R Blocktax software, or through the H R Blockonline filing program is commonly accomplished by electronic filing. It is possible in rare extreme instances that a tax professional or an online service may prepare your return and you would still need to mail it — this is not usual, though.
E-filing is the easiest method of submitting your tax return — and it almost always results in a speedier receipt of your tax refund.
“When Do I Get My Tax Refund?”
The answer to the question of when will I receive my tax refund varies from year to year. In general, the IRS has said that around 90 percent of refunds are processed within 21 days after the day the return was received.
It is possible to track the progress of your return on the IRS website or through our Where’s My Refundpage. Live updates will be available the same day that the e-file is opened. You can simply keep track of the progress of your tax return while it is processed with the help of this application.
“What Could Cause a Refund Delay?”
It is possible that your tax refund will be delayed for a variety of reasons. We’ve identified some of the most prevalent scenarios in which a delay might occur:
- If you file a paper tax return, the Internal Revenue Service estimates that you will get your refund in approximately six weeks. It is possible for you to get a tangible check from the IRS
- However, this is not guaranteed. Your tax return might take up to 14 weeks to be processed if you file Form 8379, Injured Spouse Allocation, with the IRS. You should expect the Internal Revenue Service (IRS) to take longer to resolve the matter if your identity has been stolen and another return has been filed using your social security number. If you owe a debt, such as unpaid child support, your return may be used to pay a portion or the entire amount owed.
Each of the scenarios listed above has the potential to create a delay or even prohibit you from obtaining your refund. It’s crucial to remember that every individual’s tax situation is different, and no two tax files are treated in the same way by the IRS.
“How Can I Make Sure I Get My Refund As Fast as Possible?”
Each tax filing is as distinct as the individual who files it. Taxes are no exception. Consider one or more of the following suggestions to assist you in expediting the tax refund process:
- Visit us at any H R Block location to guarantee that your return is prepared for filing when e-file becomes available. Consider the advantages of electronic filing over traditional paper filing. Complete a tax return that is free of any typographical or mathematical mistakes. In order to do this, personal information such as your name, social security number, home address, and bank information, if relevant, must be carefully reviewed
“Can I File Taxes Before E-File Opens?”
You can prepare your tax return by using one of H R Block’s digital products or by visiting a H R Block location prior to the time that e-filing becomes available online. When the IRS begins taking tax returns, H R Block will hold your prepared return and begin sending it to the agency as soon as the IRS begins accepting tax returns.
Despite the fact that the initial day to file taxes changes from year to year, it normally falls within the same time frame in January. Do you have any other questions? Make an appointment with your local tax professional, or contact 1-800-HRBLOCK for more assistance.
When Is The Earliest You Can File Taxes?
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How early can you file your tax return, when does the IRS start accepting returns, how can you get started before the IRS opens, and what does this all mean for your tax refund?
For this reason, we are frequently asked, “When is the earliest I can submit my federal tax return?” because so many of our clients are looking forward to receiving their refunds. You are theoretically unable to submit your federal taxes until the Internal Revenue Service begins accepting returns. To the contrary, you may start preparing your tax return right away, and finish it whenever you obtain your W-2 form or other relevant tax paperwork. Tax preparation services might also be of use in this regard.
The majority of W-2s are received in mid-January, but employers are required to deliver W-2s and Forms 1099 until January 31, 2020, so you might receive yours as late as early February.
Three benefits of filing your taxes early and the documents you’ll need
I’m concerned about the possibility of identity theft. How can I keep myself safe when I’m preparing my taxes? As soon as you get all of your W-2s and other income information, file your tax return. Due to the fact that e-filed tax returns are carefully encrypted for additional protection, it is the safest method of filing.
Why Jackson Hewitt ®?
We are aware of your presence. Our Tax Pros will meet with you one-on-one, answer all of your questions, and always go the additional mile to help you with your tax preparation needs and questions. We’ve got you coveredWe offer various hours, locations, and filing alternatives to accommodate the needs of even the most ardent tax filers. GUARANTEEDWe’ve seen it all, and we’ll be there to guide you through it. Our assurances and 35 years of expertise back up our claims.
How Soon Can You File Your 2021 Tax Return?
Every year, when the calendar flips over to January, tax experts are inundated with queries about when individuals can submit their tax returns and how quickly they may get a tax refund. Some circumstances, such as when you get key tax paperwork, influence the replies, and filing early does not always imply that you will receive your tax return any sooner than later.
There are a couple of dates that you can depend on regardless of the circumstances. In most cases, the Internal Revenue Service (IRS) notifies them no later than the second week of January for the next filing season, but they may be subject to change as the year progresses.
When Can You File Your Tax Return?
Year each year, when the calendar flips over to January, tax experts are deluged with queries about when people may submit their tax returns and how quickly they can get a tax refund. Several circumstances, such as when you get key tax paperwork, influence the responses, and filing early does not always imply that you will receive a larger tax return more quickly. There are a couple of dates that you can depend on regardless of what happens. In most cases, the Internal Revenue Service (IRS) notifies them no later than the second week of January for the next filing season, although they may be subject to change during the course of the year.
Collect Your Income Documents
Your company has until January 31, 2022, to provide you your W-2 form, which will record your earnings for the year 2021. Additionally, the majority of 1099 forms must be distributed to independent contractors by this date as well. If you haven’t gotten your W-2 form yet, contact your employer and ask for a copy or a duplicate copy of the document. If you and your employer agreed to this mode of distribution, your W-2 may also have been made available online. As a last option, you can contact the Internal Revenue Service at 800-829-1040 for assistance.
However, this can be a time-consuming process.
Does My Stimulus Payment Count as Income?
As of May 2020, the Internal Revenue Service (IRS) has determined that the economic impact payments granted to Americans under the Coronavirus Aid, Relief, and Economic Security (CARES) Act and subsequent laws are not taxable income. In 2020, there were two stimulus payments issued, with a third administered in 2021. The government will not demand that you return any of the money, and it will not lower the amount of any refund that you are due to receive from the government. Additionally, stimulus funds are not considered income for other purposes, such as determining eligibility for government benefits or assistance programs.
- Most likely, you will not be required to declare the money you got on your state tax return, but you should double-check your state’s website or consult with a local tax specialist to make certain.
- This payment will not be subject to taxation.
- Generally, if you are entitled for a credit and do not owe any taxes this year, your credit will result in a refund of your federal income tax.
- Many families were able to secure advance payments on their credit cards as a result.
The Internal Revenue Service (IRS) has provided helpful recommendations for dealing with the changes during the 2022 tax filing season.
When Does Tax Filing and Processing Begin?
As of May 2020, the Internal Revenue Service (IRS) has determined that the economic impact payments made to Americans under the Coronavirus Aid, Relief, and Economic Security (CARES) Act and subsequent laws are not taxable income. During the fiscal year 2020, two stimulus payments were made, and one was made in fiscal year 2021. The government will not demand that you return any of the money, and it will not lower the amount of any refund that you are due to get. Furthermore, stimulus funds are not considered income for other purposes, such as determining eligibility for government benefits or assistance programs.
- Generally speaking, you will not be required to declare the money you got on your state tax return, but you should double-check your state’s website or consult with a local tax specialist to make certain.
- There will be no taxation on this amount.
- Generally, if you are qualified for a credit and do not owe any taxes this year, your credit will result in a refund of your federal income taxes.
- The program assisted many families in receiving credit card advance payments.
- This year’s tax filing season will be marked by a number of changes, according to the Internal Revenue Service (IRS).
The Tax Filing Deadline
It is customary for taxes to be submitted by April 15th. However, you will have until April 18, 2022, to file your 2021 income tax returns and pay any tax that may be owed for the year 2022. When it comes to filing your Form 1040 or Form 1040-SR if you live in Maine or Massachusetts, you have until April 19, 2022 to do so. This is due to the fact that Emancipation Day is celebrated on April 15, 2022, and Patriot’s Day is celebrated on April 18, 2022. Those who wish to file their tax returns later can request a six-month extension from the Internal Revenue Service, which will push the filing deadline back to October 17, 2022, if they are unable to prepare and file their returns by April 18.
Normally, the conclusion of the extension period happens on the 15th of October each year, however in 2022, that day will fall on a Saturday.
When Will You Receive Your Refund?
The Internal Revenue Service (IRS) has previously stated that it issues refunds in fewer than 21 days for the majority of returns, but it can take up to six weeks if you mail in a paper return, according to its website.
If you’re seeking a physical check for your refund rather of a direct transfer, the IRS recommends that you wait an additional 10 days to allow for the postal delivery procedure.
It Can Depend on the Tax Credits You Claim
The Protecting Americans from Tax Hikes Act of 2015, sometimes known as the “PATH Act,” began delaying certain refunds in 2017, and it is expected to continue. No matter when you submit your return, the Internal Revenue Service (IRS) is not authorized to provide your refund until at least mid-February. This is true whether you claimed the earned income tax credit (EITC) or the refundable component of the child tax credit. The PATH Act stipulates that the Internal Revenue Service (IRS) must have sufficient time to evaluate returns seeking these refunds in order to prevent fraud.
If you overpaid $1,000 in taxes and are also entitled to a $1,000 EITC refund, the IRS will not pay you a single refund for $1,000 and will instead hold the EITC component of your return until the middle of February.
More Tax Planning Tips
Taxpayers must also be aware of other deadlines that must be met, such as those for filing and receiving refunds. Certain payments and reporting responsibilities are spaced out across the calendar year, and failing to meet any of them might result in a problem for the business. Listed below are a few other deadlines that you may wish to keep in mind:
- The estimated tax payments for sole entrepreneurs and independent contractors who are not subject to withholding by their employers should be made quarterly on the 15th of January, April, June, and September of each calendar year. Actually, the payment is due on January 18, 2022, and it is particularly significant because it is the final payment for the tax year 2021. Tip income over $20 for the month of December 2021 shall be reported to their employers on Form 4070 by Jan. 10, 2022, and thereafter on a monthly basis continuing forward. You have until April 18, 2022 to make contributions to your IRA for the year 2021.
Frequently Asked Questions (FAQs)
You have until the end of the tax filing season to file an extension for your federal income taxes. Filing for an extension is completely free, and it will allow you until Oct. 17, 2022, to complete your tax filing. Please keep in mind that this only applies during the time period when your tax returns are due. It is still necessary to make tax payments by the federal tax filing deadline if you owe money (typically April 15).
When is the last day you can file your taxes?
The deadline to submit your taxes is normally April 15th, or the next business day if April 15th occurs on a Saturday or Sunday (so April 18 in 2022). That means you must either file your taxes electronically (or have your tax preparer file them electronically) or mail them so that they are postmarked by the due date. When filing for an extension in 2022, you have until October 17 to do so.
Tax season has begun: Everything to know before you file your 2021 tax return
In most cases, the final day to submit your taxes is April 15, or the next working day if April 15 happens to fall on a Saturday or Sunday (so April 18 in 2022). In order to meet the deadline, you must submit your taxes electronically (or have your tax preparer do it for you) or mail them in time to have them postmarked by the due date. The deadline to request for an extension in 2022 is Oct. 17, which is the 17th of this month.
What’s the deadline for filing your 2021 tax return with the IRS?
The deadline for most taxpayers to file federal income taxes is Monday, April 18, 2022, which falls on a Monday. This is due to the fact that April 15th is observed as a holiday in Washington, DC, known as Emancipation Day. “By law, Washington, D.C., holidays have the same impact on tax deadlines for everyone as federal holidays,” according to a statement from the Internal Revenue Service. Patriots’ Day is observed in Maine and Massachusetts on April 19 this year, thus Maine and Massachusetts taxpayers will have until that day to file their taxes.
The Internal Revenue Service (IRS) anticipates receiving more than 160 million individual tax returns this year, with the great majority arriving before the April 15th deadline.
What about state taxes?
Most of the 41 states that collect income tax are sticking to the April 18 deadline, though there are a few anomalies, according to the Tax Foundation. The deadline to submit state income taxes for the year 2021 in some states, such as Delaware and Iowa, is April 30, 2022. In Virginia, the deadline is May 1, whereas in Louisiana, the deadline is May 15. The most up-to-date information and deadlines may be found by contacting your state department of revenue. It is possible that your state has a different tax deadline than the Internal Revenue Service.
What if I file for an extension?
Taxpayers who request an extension will have until October 17, 2022, to file their tax returns for the year 2021. Keep in mind that seeking an extension does not extend the date for when you must make a payment to the IRS: You must still pay an estimated amount of what you owe by April 18 (or April 19, depending on where you reside) in order to avoid late fees and interest charges. An extension simply provides you with additional time to finish your tax return.
When’s the earliest I can file my 2021 taxes?
On January 24, 2022, the Internal Revenue Service began receiving and processing tax returns for the year 2021. This is a significant advance above the previous year’s commencement date on February 12. IRS Free File, a collaboration between the Internal Revenue Service and top tax-software businesses, was launched on January 14: A free electronic filing option is given by participating providers, allowing taxpayers with incomes of $72,000 or less in 2021 to submit their returns online for the first time.
File your 2021 return even if you’re awaiting processing of a previous tax return
You are not need to wait until your 2020 tax return has been fully completed before filing a 2021 tax return. In accordance with the Internal Revenue Service, nearly 169 million 2020 tax returns had been processed as of December 3, 2021. This figure includes all paper and electronic individual returns received prior to April 2021 that included a refund and did not contain errors or require additional review. As Rettig explained, “the Internal Revenue Service is continuing to decrease the inventory of prior-year individual tax returns that have not been fully processed.”
When can I expect my refund?
According to the IRS, if you submit your return electronically and choose direct deposit, you should expect to receive your money within 21 days, providing there are no difficulties with your return. According to federal law, the agency is prohibited from issuing refunds including the earned income tax credit or supplementary child tax credit before the middle of February in order to assist prevent fraudulent refunds from being given. Individuals who are entitled for such credits, on the other hand, can still file their tax returns beginning on January 24.
Should I file early?
In the event that you have all of your documentation in order and will be receiving a refund, Joe Burhmann, senior financial planning expert at ateMoney Advisor, told CNET that it makes sense to file as soon as possible. “From a tax planning standpoint, the IRS appreciates that.” But if you owe money to someone, you might want to hold out a little longer. According to Burhmann, “it provides you a little more time to cling onto your money.” “It also allows you time to figure out how you’re going to pay – whether that means taking out a loan, putting it on credit cards, or doing something different.” However, even if you are not submitting your taxes right away, you should begin preparing them as soon as feasible.
According to Burhmann, “Knowledge is always a valuable possession.” “Make certain that you’ve received your 1099 and that you understand what you’re getting yourself into.”
What happens if I miss the tax deadline?
You will not be penalized for paying your federal taxes late if you are owed a refund; but, you may be penalized if you file your state taxes late. Even so, it’s a good idea to file or postmark your individual tax return as soon as possible after it’s due. If you owe the IRS money, penalties and interest will begin to accumulate on any unpaid taxes that remain unpaid beyond the filing deadline. When you file your return late, you will be assessed a penalty of 5 percent of the taxes owed for each month your return is late, with costs escalating to up to 25 percent of your unpaid total if more than 60 days have gone.
A final point to consider: If you’re serving in the military – in a conflict zone or as part of a contingency operation in support of the armed forces – you may be eligible for an extension of time to pay your taxes, according to the Internal Revenue Service.
You might want to think more seriously about working with a tax preparer this year
Taxes have become more difficult for many people as a result of the epidemic and its influence on our life. It’s possible that you went freelance or relocated and are now liable for taxes in various states, according to Burhmann. In 2021, 26 states and the District of Columbia will have amended their tax systems, either raising or lowering their income taxes. As a result, Burhmann explained, changes are occurring not only at the federal level but also at the state level. Many taxpayers are eligible for free assistance through the Internal Revenue Service’s Free File program, as well as through Volunteer Income Tax Assistance and Tax Counseling for the Elderly offices located around the country.
File electronically and opt for direct deposit for your refund
After obtaining all of the information necessary to complete an accurate return, the IRS encourages filers and tax professionals to submit their returns online with the IRS. According to the government, this will prevent delays in the processing and delivery of refunds, as well as the child tax credit and recovery rebate credits. “Using the internet guarantees that you receive the full amount of credit and reimbursements that you are entitled to,” Burhmann told CNET. According to Rettig of the IRS, direct deposit is the most efficient method of receiving any refunds or credits that are owed to you.
Through the National Credit Union Locator Tool, you may create an account at a bank or credit union that is FDIC-insured.
CNET photo by Sarah Tew
Don’t think of your refund as ‘found money’
According to Buhrmann, “this isn’t something you’d want to use to, for example, go on a huge trip with.” “Consider putting money aside for an emergency fund or paying off consumer debt, as well as saving money aside for retirement or your children’s college tuition. If you ever want to be reminded of what a catastrophe may look like, just remember back to March of 2020.” Learn how to set up an account on the IRS website and how to file a tax return using your phone for additional information on filing a tax return in 2021.
If you need to declare Venmo payments from pals, you can find the information here.
How do I check the status of my refund?
The Internal Revenue Service website provides a convenient web-based service that allows you to check the status of your refund (electronic or paper). There is also an app for mobile devices, called IRS2Go. You may generally find out the status of your refund approximately 24 hours after submitting an e-return or four weeks after mailing in a paper return. You’ll need to submit your Social Security number or ITIN, your filing status, and the precise amount of your return in order to get a refund status check.
“Approved” indicates that your refund has been processed.
I have questions about my taxes. Can I call the IRS?
Although you can contact the IRS by phone, the agency encourages that you use online tools and its online form instead. Between January 1 and May 17, the agency received 145 million calls, which is more than four times the amount of calls received in a typical calendar year. According to IRS Commissioner Chuck Rettig, who spoke at a press event on January 10, “our phone volumes continue to be at record-setting levels.” “We encourage consumers to visit IRS.gov and create an online account to make it easier for them to obtain information in the future.
to 7 p.m.
Individuals may reach out to 800-829-1040, while corporations can reach out to 800-829-4933.
It is recommended that you checkIRS.gov if you have a query for the IRS about stimulus checks and your taxes.
Where else can I get help with my taxes?
By selecting a service from CNET’s list of the best tax software for 2022 or by speaking with a knowledgeable tax expert, you may get useful and reasonable advice. Additional free tax assistance is available from the IRS as well. In order to provide assistance to persons who earn less than $54,000 per year, have impairments, or have a limited understanding of English, the Volunteer Income Tax Assistanceprogram was established. In addition, the Tax Counseling for the Elderlyprogram focuses on tax concerns that impact those who are 60 years or older than the general population.
to 11 p.m. Eastern Time. More information may be found at: How to deduct your home office expenses without having to go through an audit A direct deposit of news and information to assist you in making the most informed financial decisions possible.
2022 Estimated Income Tax Refund Date Chart – When Will You Get Your Tax Refund?
Updated at 10:17 a.m. Eastern Time on January 28, 2022. Is the tax filing season in 2022 going to be normal? Covid-19 is still a source of concern, and numerous stimulus tax regulations are still proving difficult for some filers to navigate. In addition, additional tax laws may have been adopted since then that have added to the complexity. Nonetheless, the income tax filing procedure is closer to regular than it was in either 2020 or 2021, which both had prolonged filing deadlines as a result of the closure of IRS offices, the tax courts, as well as the fact that IRS and tax company employees were unfamiliar with remote working.
- Prepare to have your taxes submitted (or an automatic extension filed) by Monday, April 18, 2022 if you want to avoid penalties.
- (This is also known as Emancipation Day.) Furthermore, the filing of federal and state income tax returns should revert to more typical levels as a result of the current situation.
- For the same reasons as in previous years, early tax filers who are due a refund may frequently expect to get their funds by the middle or end of February.
- Despite the fact that the Covid-19 epidemic had a substantial influence on the previous two tax filing seasons, and the IRS extended both deadlines as a result, the IRS did not extend the tax filing deadline for the year 2022.
- If you haven’t received your IRS income tax refund within 30 days of filing, consult with your tax professional or utilize the “Where’s My Return?” function on the IRS website to track down your refund.
- It takes as little as 2-3 weeks for the vast majority of Americans who are anticipating an income tax refund to get it by direct deposit, although this can take longer during the peak of filing season, which begins in late March and lasts into April.
- There are a variety of circumstances that can influence when a person receives their tax return, including:
- When they file their paperwork
- If a taxpayer is claiming various tax credits (particularly the EITC and CTC), the following conditions apply: Whether the return is filed electronically or by mail
- • Whether or not the taxpayer now owes money to the federal government
- Covid stimulus payments made in 2020 and 2021 will have no effect on income tax refunds (although, certain taxpayers who did not get one may be found to have been entitled one, in which case they may be eligible to have it added as a credit = additional $$ to their 2022 refund). Consult with a tax specialist.)
Note: The Internal Revenue Service (IRS) will postpone processing an income tax return by 2-3 weeks if it includes the Earned Income Tax Credit (EITC) or theChild Tax Credit (CTC), because these benefits are frequently abused. The additional period gives the Internal Revenue Service (IRS) the opportunity to verify that taxpayers qualify for the credits. In any case, here’s the chart you were searching for: If the Internal Revenue Service modifies the tax filing season this year, we will update this graphic.
And keep in mind that this is only an estimate of when you should anticipate your reimbursement. It is not accurate since every taxpayer has a unique set of returns and financial circumstances.
|IRS Accepts E-Filed Return By:||Direct Deposit Sent (Or Paper Check Mailed 1 week later):|
|IRS will start accepting income tax returns on Jan. 24, 2022.|
|Jan. 24, 2022||Jan. 31 (Feb. 11)*|
|Jan. 31, 2022||Feb. 11 (Feb. 18)**|
|Feb. 7||Feb. 18 (Feb. 25)**|
|Feb. 14||Feb. 25 (Mar. 4)**|
|Feb. 21||Mar. 4 (Mar. 11)**|
|Feb. 28||Mar. 11 (Mar 18)|
|Mar. 7||Mar. 18 (Mar. 25)|
|Mar. 14||Mar. 25 (Apr. 2)|
|Mar. 21||Apr. 1 (Apr. 9)|
|Mar. 28||Apr. 8 (Apr. 15)***|
* = The IRS may postpone the start of tax season by a week or two. ** = Refunds for returns claiming the Earned Income Tax Credit or the Child Tax Credit may be postponed until March in order to validate credits. When filing during high season, expect to be subjected to somewhat lengthier wait times.
|IRS Accepts Return By:||Direct Deposit Sent (Or Paper Check Mailed one week later)|
|Apr. 4, 2022||Apr. 15 (Apr. 22)***|
|Apr. 11||Apr. 22 (Apr. 29)***|
|Apr. 18||Apr. 29 (May 6)|
|Apr. 25||May 6 (May 13)|
|May 2||May 13 (May 20)|
|May 9||May 20 (May 27)|
|May 16||May 27 (June 4)|
|May 23||June 4 (June 11)|
IMPORTANT:If you file electronically (via the use of an online tax application or preparer), the Internal Revenue Service (IRS) will tell you of the exact date on which your return was “approved.” In most cases, this is 1-3 days after you actually press the “file” or “submit” button, and it is this date that you must use in the preceding chart. It is expected that taxpayers who send a paper version of their income tax return would have a three to four-week wait at the front end of the process, since the return must be manually input into the IRS system before it can be processed.
Be Safe – Hire a Professional
Customers who work with a professional, such as a CPA or an estate planning attorney, may inquire of that expert about an expected date for their tax return, and they can be more certain that their taxes have been correctly (and lawfully) filed. There are also applications available for Apple, Android, and other devices that allow you to follow the status of your refund.
Returns containing refunds are typically completed and money provided within 21 days, according to the IRS’s guidelines. Paper filers, on the other hand, may have a substantially longer wait time. The Internal Revenue Service (IRS) and tax specialists actively urge electronic filing.
What If You Can’t File Your Income Taxes By April 18?
In the event that a taxpayer does not have all of the documents necessary to complete their taxes, they may quickly file an extension form, known as “Form 4868, Application for Automatic Extension of Time to File United States Individual Income Tax Return.” – The individual will have till October 15 to file their tax return as a result of this. There is no need to provide a cause or an explanation in order to acquire this extension, and as the title indicates, it is automatically given. However, if a person will owe taxes, they will still be required to pay those taxes by April 18, regardless of whether or not they have requested an extension to file their taxes.
In most cases, those who are entitled to a refund just need to submit a request for an extension by April 18.
Tax Refund Estimators:
Despite the fact that many taxpayers file their tax returns on or around April 15 each year, there is no reason to wait until the last minute to complete your return. Indeed, submitting a tax return early may be beneficial for a variety of reasons, including receiving your refund sooner and reducing the chance of identity theft (among others). Even if you don’t submit your taxes in a timely manner, there are compelling reasons to begin your tax preparation as soon as possible. You will have more time to gather all of your documentation and information, allowing you to avoid the hassle of last-minute scrambling for receipts.
Furthermore, if you hire a hired preparer, your accountant will have more freedom and may be able to begin working on your accounts sooner if you do so.
Additionally, because of the federal holiday, the tax filing date for the majority of taxpayers is Monday, April 18, 2022.
- You will receive a speedier refund if you file early. By not hurrying, you give yourself more time to prevent making mistakes that might result in an audit. Tax planning provides you the opportunity to forecast capital gains, harvest tax losses, make last-minute charity deductions, and transfer certain eligible items to the most advantageous tax year for your situation.
New Standard Deduction
It is one of the most crucial decisions that taxpayers must make: whether to itemize deductions or take advantage of the new, bigger standard deduction that has been available since 2018. The following is a breakdown of the standard deductions for the tax years 2021 and 2022:
|Standard Deductions for 2021 and 2022|
|Filing Status||2021 Standard Deduction||2022 Standard Deduction|
|Married Filing Separately||$12,550||$12,950|
|Heads of Household||$18,800||$19,400|
|Married Filing Jointly||$25,100||$25,900|
The Internal Revenue Service provided the information. If you are at least 65 years old and/or legally blind before the end of the tax year, you are eligible for extra deductions (if you file a joint return, each spouse who qualifies can claim the additional amount). If you are above the age of 65 and legally blind, you are eligible to claim twice the extra exemption. The following is a list of the extra deductions:
|Additional Standard Deductions for 2021 and 2022|
|Filing Status||2021 Additional Standard Deduction||2022 Additional Standard Deduction|
|SingleHeads of Household|
|Married Filing JointlyMarried Filing Separately|
Internal Revenue Service is the source of this information. The sooner you begin working on your tax return, the sooner you will be able to determine which technique is the most appropriate for your circumstances.
SALT Tax Deduction Limit
Your total state and local tax deduction (SALT) is limited to $10,000 under the tax regulations that took effect in 2018. If your SALT deduction is more than the new maximum and you don’t have a lot of other deductions, this ceiling may serve as an additional incentive to take the standard deduction rather than the alternative. Getting a head start on your taxes can help you avoid making costly mistakes when it comes to filling out this critical section of your income tax return.
File Early for a Faster Refund
By filing early, you may prevent procrastination, provide yourself with peace of mind, and cross this key thing off your to-do list for the new year’s resolutions. Why not submit in your tax return as soon as the IRS announces that it will begin processing them and get this unpleasant duty out of the way? The Internal Revenue Service awarded refunds to 129.8 million taxpayers for the 2020 filing season, with each return averaging $2,815 in value. You should not allow the government to hold your money for any longer than absolutely necessary if you have money flowing to you.
Some people rely on their income tax returns to cover large expenses such as medical costs.
File Early to Avoid Identity Theft
When you make your claim as quickly as possible, the less time there is for an identity thief to file in your name and claim your refund. Especially if the thief claims bogus deductions, fails to declare income, or otherwise tarnishes a tax return filed in your name, the results might be disastrous. It might take months to clean up a shambles like this. By filing early, you reduce your chances of being a victim of identity theft. You’ll file before an identity thief can take advantage of the situation and file in your place.
According to the IRS, you should be on the lookout for potential tax-related identity theft if you experience any of the following:
- You get a letter from the Internal Revenue Service (IRS) enquiring about a suspicious tax return that you failed to file
- You are unable to electronically file your tax return due to a duplicate Social Security number
- You receive a tax transcript in the mail even though you did not request one
- And You receive a notification from the IRS stating that an online account in your name has been created (even though you did not create it)
- When you have not taken any action, you receive a notification from the IRS stating that your existing online account has been accessed or disabled. You get a letter from the IRS stating that you owe more tax or that your refund has been offset, or that measures have been taken against you for a tax year for which you did not submit a tax return
- According to IRS records, you got pay or other money from an employer for which you did not perform any labor. A Federal Employer Identification Number (EIN) has been provided to you without your prior permission
Any IRS notification you get should be responded to immediately by contacting the number listed on the notice if your Social Security number has been stolen and you think you are a victim of tax-related identity theft; otherwise, contact the IRS promptly. Complete IRS Form 14039, Identity Theft Affidavit, if your e-filed return is denied due to a duplicate filing with your Social Security number; otherwise, contact the IRS. Visit IdentityTheft.gov to learn about the precautions you should take now to protect yourself and your bank accounts against identity theft.
File Early to Avoid the Tax-Season Rush
Filing early offers you more time to properly comprehend any changes to tax legislation that may have occurred, as well as time to cope with changes in your personal circumstances that may have affected your filing status. Mistakes made as a result of hurrying at the last minute might result in audits, which can result in penalties and interest. Because of the changes brought about by the TCJA, this point is now more relevant than it has ever been. It is unlikely that your certified public accountant(CPA) or other tax preparer will be as busy in January or February as they will be in April.
It is necessary to have information from your most recent tax return if you are in the process of purchasing a home or returning to education (and applying for financial assistance).
Avoiding Amended Returns
Starting early allows you to have enough time to prepare and file an appropriate tax return. It is probable that an incorrect return will result in an amended return. Audits are more likely to occur when returns are amended. Here are some things to keep an eye out for as you work to improve your accuracy.
- Errors in official papers are common. Examine all incoming documents, including W-2s, 1099s, interest statements, and anything else that may be used to substantiate a deduction, before making any decisions. Mistakes are made by businesses, banks, and other financial organizations. Catch them before you file your paperwork
- Forms that are late in arriving. Early filing may result in the loss of important forms, such as a1099 or K-1 that comes late. Before you click “submit” or drop your return in the mail, double-check that you have all of the documents you need. Amendments that are not complete. If you find yourself having to make changes to your tax return, don’t limit yourself to simply the items that will benefit you. Anything that is incorrect should be corrected. Changes to the tax form. Following the passage of the Tax Cuts and Jobs Act (TCJA) in 2017, the design of Form 1040 was altered. In fact, if you had previously utilized Forms 1040-EZ or 1040-A, those forms have been phased out of the process. Furthermore, if you are an older adult, you can now choose to utilize the new “U.S. Tax Return for Seniors,” 1040-SR
- Tax-Law changes, instead of the previous 1040. Incorporating new legislation into paper tax forms or tax software that has not been updated prior to April 15 may be difficult or impossible. Keep an eye on the news. Keep an eye out for any modifications that may have gone unnoticed. You have the option of filing an updated return if necessary.
For example, private mortgage insurance (PMI) was initially disallowed as an itemized deduction for tax year 2017, but was later reinstated. On February 9, 2018, a tax law was passed that reestablished the deductibility of PMI for taxpayers with taxable income of less than $100,000. By that moment, mortgage lenders had already given out Form 1098, Mortgage Interest Statement, to taxpayers who had requested it. Following the amendment to the tax code, lending institutions were required to send out a revised Form 1098.
Unemployment compensation received in 2020 can be exempted up to $10,200 under the American Rescue Plan Act (ARPA), which was signed into law on March 11, 2021, for taxpayers with modified adjusted gross incomes of less than $150,000.
After a few months, the IRS declared that those taxpayers would not be required to submit updated forms because the IRS will automatically calculate the right taxable amount of unemployment benefit on their behalf.
Shifting Tax Burdens
In the event that you get a jump on things before December 31, you will have more time to estimate capital-gain distributions and harvest losses, make contributions to a 529 savings plan, and make last-minute charitable donations. Taking advantage of the ability to transfer tax-deductible items—such as property taxes, business costs, or even mortgage payments—to the year that makes the most sense tax-wise is another option. You have until April 15 of the year after the year in which you file your tax return to make the most of your workplace 401(k) and/or any individual retirement account (IRA) plans that you may have, as well as make payments into your health savings accounts (HSAs).
Time to Save
If you owe money to the IRS, filing early will offer you more time to save the money you owe. Keep in mind that you are not required to pay until the filing date. Waiting only to discover that you owe more than you anticipated might make a serious dent in your financial planning. The Internal Revenue Service recommends that you verify your withholdings and tax payments in the fourth quarter of the year to prevent receiving an unexpected tax bill. You may use the IRS’s Tax Withholding Estimator tool to be sure you’re withholding the correct amount of tax.
Should You E-File Your Taxes?
If you plan to send your tax return, filing early will help you avoid traffic and a congested post office. It is preferable to complete the task and prevent the trouble. Of course, e-filing is frequently preferable to mailing in a paper tax return. Here’s why, according to the Internal Revenue Service:
- It is the most expedient method of obtaining a refund. It’s safe (e-filing makes use of sophisticated encryption technology to keep your information safe)
- It’s convenient. It’s a practical solution
- You will get prompt notification from the IRS whether your return has been approved or refused. It’s frequently free (for example, many individuals can use theIRS Free Filetool)
- Paying your taxes may be done in numerous ways
- The most common are as follows:
When Is the Earliest You Can File Your Tax Return?
You may begin preparing your tax return as soon as you get your W-2s, 1099s, and other pertinent tax records. Your W-2s and 1099s must be sent out by January 31 of the next tax year, so yours might arrive as late as early February if you are an employee. If you receive your tax paperwork sooner rather than later, you will be able to file your tax return when the Internal Revenue Service begins accepting them, which is normally during the final week of January. The Internal Revenue Service (IRS) releases a statement each year in early January announcing the first day to submit taxes.
What Is the Deadline for Filing a Tax Return?
Individual income tax returns are typically due on or around April 15 after the end of the tax year in which they were filed. For the vast majority of taxpayers, your 2021 tax return will be due on April 18, 2022, which is one day later than usual owing to the Emancipation Day holiday observed in the District of Columbia on April 15, which falls on April 15. However, owing to the Patriots’ Day holiday observed in Maine and Massachusetts on April 19, 2022, persons who live in those states have until that day to file their tax returns.
File your request for an extension of time before the due date of your tax return.
Keep in mind that an extension does not provide you more time to pay your taxes; thus, if you don’t pay your taxes by the original due date of your return, you will owe interest on the amount you owe (usually April 15).
The Bottom Line
The majority of professionals think that it is advisable to begin your tax return as soon as feasible. If you are receiving a refund, the choice to submit your return early may be influenced by the intricacy of your return. In order to ensure that your return is correct and comprehensive, you should follow the advise of your financial or tax expert.