Everything You Need To Know About Filing Your Taxes in 2022

This year is rapidly coming to a close, and Tax Day is around the corner. So you need to get ready to file your taxes. Here are some things you need to remember about going to tax season. 

What Should You Know About Filing Taxes in 2022?

Here is what you need to keep in mind: 

• You need to collect all the documents before preparing a tax return. You must ensure you have the following documents and forms: W-2s, Form 1099s, and other income-related statements. Also, make sure that you have your Child Tax Credit, Economic Impact Payment, and stimulus payment information ready. 
• E-filing is better and more convenient. If your question is, "How do I file my taxes?" you should consider E-filing. E-filing is a great option because it helps save you time and money. E-filing is absolutely safe, and by using it, you will get your refund faster. Moreover, there is a special LearnVest Partnership that offers you H&R Block’s basic federal filing package for free. 
• The beginning of the filing season is January 24th. Do you want to know "When do I file my taxes for 2022"? According to the IRS, the filing season starts on January 24th and ends on April 18th. 
• You can get an extension for paperwork, but not for payment. It is totally fine if you cannot file your taxes on time — the IRS is ready to offer you an extension. However, an extension is possible for your paperwork only. It means that you cannot put off paying the taxes you owe. In case you do not have enough cash to make a payment, other options are available, such as paying with a credit card or setting up a payment plan. 
• You may need professional help. Most people can file taxes themselves. However, there might be situations when you need professional help. You may consider an accountant in the following unusual and complicated situations: owning your own business, being self-employed, taking complex deductions, trading in investments, buying a house, having a child, and others. 

Kedean’s Generation in New Jersey and New York – Professional Tax Preparation for You

Filing taxes is not always easy, and the tax code is always changing. If you need professional help preparing and filing your taxes, Kedean’s Generation is ready to assist you. Our team of professionals will ensure that your taxes are filed correctly and before the deadline. If you have any questions or you want to know more about the filing process, feel free to visit our website or call us – we are always ready to provide you with the information you need. 

Categorised in: Tax Preparation