The 2022 tax return season has started. With the Internal Revenue Servicebacklog and sluggish productivity, you could see a repeat of last year's chaos. About 30 million taxpayers have their tax refunds delayed by the IRS.
You may have learned some key thing that are different from 2021: you need to reconsider the advance payment of the Child Tax Credit, the return of the Recovery Tax Credit, and the special relief for charitable donations.
As you begin to sort out and file your tax returns, you can take some measures to help ensure a quick tax refund.
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The IRS anticipates filing taxes online can speed up the time it takes to get your return – from six to eight weeks down to 21 days.
“The pandemic continues to create challenges, but the IRS reminds people there are important steps they can take to help ensure their tax return and refund don't face processing delays,” said IRS Commissioner Chuck Rettig in a January 10, 2022 press release.
According to the data from Taxpayer Advocate Service, about 138 million taxpayers filed electronic tax returns last year, accounting for about 93% of the 148 million tax returns in 2021.
Using electronic tax returns will shorten your tax refund period. Avoiding a paper tax return will be more important than ever this year to avert processing delays.
2. Direct Deposit System
In 2022, you can deposit your tax refund into your financial account electronically for free. The IRS program is called direct deposit. You can use it to deposit your refund into one, two or even three accounts.
According to the IRS, 80% of taxpayers get refunds through direct deposits. The IRS claims it is very safe and reliable. Direct deposit uses the same electronic transfer system as social security and veterans affairs benefits.
The IRS says refunds can be directly deposited into bank accounts, prepaid debit cards or mobile apps as long as a routing and account number is provided, the IRS said.
3. Accurate Reporting Data
“People should make sure they report the correct amount on their tax return to avoid delays,” Rettig said. IRS staff will carefully compare the figures with those reported by taxpayers. If there is a discrepancy, your tax return may be delayed by weeks or even months.
It’s important to ensure that your tax forms do not contain incorrect or incomplete information. If your tax return requires further review by the IRS after you have corrected the error, this workflow may continue for a long time.
By the way, if you are using electronic filing, you can reduce errors and better avoid processing delays.
4. Letters From IRS
In addition to collecting W-2s, Form 1099s and other income-related statements, it is important people have their advance Child Tax Credit and Economic Impact Payment information on hand when filing.
To file an accurate tax return, you need to keep two letters: 6419 and 6475.
Third Economic Impact Payment letter 6475: In late January 2022, the IRS will begin issuing letters to people who received the third payment in 2021.
Please keep these two letters and refer to them when you complete your tax return. The data they contain will enable you to fill in the tax return information more accurately and get the tax refund faster.
5. Free File Fillable Form
Now that you have identified these key tax filing considerations. Before you fill out the electronic tax return, you may need some free file fillable forms.
File Fillable Forms are electronic federal tax forms you can fill out and file online. Select the income tax form you need on the IRS website, enter your tax information online, sign and submit your tax return. Alternatively, you can easily download Free Tax Return Templates for reference.
As a proverb says, the best preparation for tomorrow is doing your best today. No one can guarantee that the tax return can be completed successfully once. Before the final tax return, you may need a free form filler & signer to practice, such as PDF Reader Pro.
Using PDF Reader Pro, you can add your details and use these tax return templates to design for your own needs, editing the PDF more conveniently. Click the Free Download to try its features for free, and enjoy your tax filing experience.