The 2022 tax season brings new opportunities for taxpayers. The new year means new tax laws, which can be beneficial for some and confusing for others. Tax season also brings the chance to file early and get a head start on refunds.
Here are ten things that can make tax season easier:
1. Get Organized
The first step to a successful tax season is getting organized. This means having all of your documents in order, including W-2s, 1099s, and receipts. Keep track of what you spent money on and how much it was so you can maximize your deductions.
2. Know the Changes
Every year, there are new tax laws that come into effect. It’s important to stay up-to-date on these changes so you can take advantage of any benefits or deductions that may be available to you. You can find out about these changes by reading tax publications or speaking with a tax attorney.
3. File Early
Filing your taxes as early as possible has many benefits. For one, it can help you avoid last-minute rush and stress. It can also help you get your refund sooner. And if you owe taxes, filing early can give you more time to come up with the money you need to pay.
4. Use Direct Deposit
When you use direct deposit to receive your tax refund, you’ll get your money faster than if you opt for a paper check. Direct deposit is also more secure, as there’s no risk of your check getting lost in the mail.
5. Check Your Math
Before you submit your tax return, be sure to double-check your math. A simple mistake can delay your refund or even result in you owing money to the IRS.
6. Review Your Return
Once you’ve completed your tax return, take some time to review it before you submit it. This will help ensure that you haven’t made any mistakes and that everything is accurate.
7. Get Help if You Need It
If you’re feeling overwhelmed by tax season, don’t hesitate to get help from a professional. A tax preparer can make sure your return is done correctly and help you maximize your deductions.
8. Check Your Status
Once you’ve filed your return, you can check the status online to find out when you can expect your refund. This is a good way to keep track of your return and make sure it’s being processed correctly.
9. Request an Extension
If you need more time to file your taxes, you can request an extension from the IRS. This will give you an additional six months to file your return, but keep in mind that you’ll still need to pay any taxes owed by the original deadline.
10. Use Free Resources
There are a number of free resources available to help you with your taxes, including the IRS website and TaxACT. These resources can help you understand the tax process and make sure you get the largest refund possible.
If you follow these ten tips, tax season will be a breeze. With a little preparation, you can get your taxes done quickly and efficiently.