It’s almost time to start filing taxes for 2022 and there’s a few changes this season that taxpayers are going to want to know about.
Let’s dive into all of those tax changes below!
- First off, taxpayers will want to note that the first day for filing taxes is January 24, 2022.
- This early start date is for individual tax returns.
- The IRS is setting up early to test out new programming in place to account for the Child Tax Credit and Recovery Rebate Credit.
- According to the agency, the quickest way to get through filing taxes will be to have all of the required information ready to go.
- That includes how much was paid out as part of stimulus packages in 2021, as well as how much was gained via the Child Tax Credit.
- On that same note, some taxpayers may see a smaller return this year than they’re used to.
- That’s due to the child tax credit sending out payments to parents on a monthly basis instead of in one lump sum as part of their tax return.
- It’s also worth highlighting that taxes are due on April 18 this year for most of the population.
- That’s due to the Emancipation Day holiday pushing back the due date from the typical April 15.
- Taxpayers living in Maine or Massachusetts have until April 19 to file due to the Patriots’ Day holiday in those states.
- Anyone filing an extension will have until Oct. 17, 2022, to file their taxes.
- Taxpayers may also see a delay on their tax returns due to the ongoing stress the pandemic is causing the IRS’ system.
- The quickest way to get a return in 2022 is filing taxes electronically with direct deposit set up.
- Those that choose to turn in a paper filing are more likely to face delays.
Investors looking for stock market news today will want to keep reading!
We’ve got all the most recent news traders need to know about for Tuesday. That includes what’s happening with Kandi Technologies (NASDAQ:KNDI) and Rivian (NASDAQ:RIVN) shares today, as well as this morning’s biggest pre-market stock movers. You can find all of that at the following links!
More Stock Market News for Tuesday
- KNDI Stock: The EV News Sending Kandi Technologies Revving Up Today
- RIVN Stock Alert: Why Is Rivian Under Pressure Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Tuesday
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.