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When Do Tax Returns Come 2022: A Complete Guide

Introduction

Filing taxes is a crucial responsibility that every individual must fulfill annually. While the process may seem daunting, it is essential to understand the timelines and deadlines involved to avoid any penalties or late fees. One of the most frequently asked questions is, "When do tax returns come in 2022?" In this article, we will discuss the timelines and provide a complete guide to help you prepare for the upcoming tax season.

Important Dates

The Internal Revenue Service (IRS) has already released the tax season's important dates for the year 2022. The filing season officially begins on January 24, 2022, and ends on April 18, 2022. The deadline to file taxes in 2022 is April 18th, which is three days later than the traditional April 15th deadline. The extension is due to a legal holiday in Washington D.C. on April 15th.

Electronic Filing

Electronic filing is a convenient and secure way to file your taxes. The IRS encourages taxpayers to file electronically as it is faster, more accurate, and secure. The IRS will begin accepting electronic tax returns on January 24, 2022. If you decide to file electronically, you can expect to receive your tax refund within 21 days of filing.

Mail-in Filing

If you decide to file your taxes by mail, you must ensure that your tax return is postmarked on or before April 18, 2022. It is essential to note that refunds for mail-in tax returns may take up to six weeks to process.

Refunds

If you are due a tax refund, you can expect to receive it within 21 days of filing your tax return electronically. However, if you choose to file by mail, it may take up to six weeks to receive your refund.

Extensions

If you are unable to file your taxes by April 18, 2022, you can request an extension. The extension will give you an additional six months to file your taxes, but you must still pay any taxes owed by the April 18th deadline. Filing for an extension is easy, and you can do it electronically or by mail.

Penalties and Late Fees

If you fail to file your taxes by the April 18th deadline, you may incur a penalty of up to 5% of the unpaid taxes for each month that the return is late. Additionally, if you fail to pay the taxes owed by the deadline, you may incur a penalty of up to 0.5% of the unpaid taxes for each month that the payment is late.

Tax Credits and Deductions

Tax credits and deductions can help you reduce the amount of taxes owed or increase your tax refund. Some of the most common tax credits and deductions include the Earned Income Tax Credit, Child Tax Credit, and the standard deduction. It is essential to research and understand the tax credits and deductions available to you to maximize your tax savings.

Tax Preparation Services

If you are unsure about filing your taxes or need assistance, there are several tax preparation services available. These services can help you prepare and file your taxes accurately and efficiently. Some of the most popular tax preparation services include TurboTax, H&R Block, and TaxAct.

Conclusion

Filing your taxes on time is crucial to avoid any penalties or late fees. Understanding the timelines and deadlines involved can help you prepare for the upcoming tax season. If you have any questions or concerns, it is best to consult a tax professional or utilize a tax preparation service. We hope this complete guide has provided you with the information you need to file your taxes successfully in 2022.

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