The IRS declared Monday, January 23rd as the official start to the 2023 tax filing season. This date is when the agency began accepting and processing 2022 tax year returns. In preparation for tax filing season, the IRS is continuously providing tips and details regarding what information you need to file, how to file, changes to tax credits, when to expect refunds and what they have implemented to improve taxpayer service.
Information You Need Before Filing
Organize and gather 2022 tax records including any of the below information that may pertain to your situation:
Identification Numbers including:
- Social Security number
- Individual Taxpayer Identification Numbers
- Adoption Taxpayer Identification Numbers
- Identity Protection Personal Identification Number (IP PIN) for 2023 (Keep in mind that your IP PIN is valid only for federal income tax returns and changes annually)
- Direct deposit information
If you have multiple sources of income, be certain that you have all documents before filing, including a W-2 if you are an employee and Form1099 from banks or other payers reporting items including but not limited to:
- Unemployment compensation
- Social Security benefits
- Retirement / pension plan distributions
- Income earned from the gig economy
- Digital assets
How to File
The IRS has various programs to help file electronically such as Free File, for taxpayers who made $73,000 or less in 2022.
VITA and TCE Programs
Other free services include the Volunteer Income Tax Assistance (VITA) and Tax Counseling for the Elderly (TCE) programs. The free tax help is for people who make $60,000 or less, a person with disabilities and limited English-speaking taxpayers. For more information about these programs or to find a VITA or TCE site near you, please click here.
Military Tax Services
For those in the military community, MilTax is a free resource offered through the Department of Defense that includes tax preparation and electronic filing software, personalized support from tax consulting and current information about filing taxes. This service includes specific items such as deployments, combat and training pay, housing and rentals and multi-state filings. To learn more visit, click here.
IRS Online Tools and Resources
For a list with links to online tools and resources offered by the IRS, please click here.
Changes to Tax Credits include amounts for the Child Tax Credit (CTC), Earned Income Tax Credit (EITC) and Child and Dependent Care Credit. Details can be found in our January 11th WM Wednesday Wisdom. For more details, please click here.
Where’s My Refund?
According to the IRS, most refunds are issued in less than 21 days.
For taxpayers claiming the EITC or Additional Child Tax Credit (ACTC) before mid-February, the law requires the IRS to hold the entire refund, not just the portion associated with EITC or ACTC.
You can use the Where’s My Refund tool to check the status of your refund.
Improving the Taxpayer Experience
In October 2022, the IRS reported hiring 4,000 new customer service representatives, to help answer phones and provide other services.
“As the newly hired employees are trained and move online in 2023, we will have more assistors on the phone than any time in recent history,” said IRS Commissioner Chuck Rettig.
In addition to improving phone assistance, the IRS is also hiring IT and compliance positions to help improve and serve taxpayers.
The deadline to file or request an extension for filing 2022 returns is Tuesday, April 18, 2023. The date was changed to the 18th since April 15th falls on a weekend plus Washington D.C. is closed for the Emancipation Day holiday on April 17th.
Dates to keep in mind for 2023
|Monday, January 23, 2023||Tax filing season begins; IRS starts to accept and process individual 2022 tax returns.|
|Tuesday, April 18, 2023||National due date to file a 2022 tax return or request an extension and pay tax owed.|
|Monday, October 16. 2023||Due date to file for those who requested an extension on their 2022 tax return.|
Should you have questions about year-end payroll processing, or any other topics related to your personal or business situation, please contact us at any time.
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