New York CNN – The IRS has received over 100 million income tax returns for 2022 this tax season, leaving tens of millions of households yet to file their returns. If you’re one of them, here are some last-minute tax-filing tips to keep in mind as the April 18 deadline approaches.
1. Not everyone has to file on April 18: If you live in a federally declared disaster area or have relevant tax documents stored there, the IRS may have already extended the filing and payment deadlines for you. Check the specific extension dates for each disaster area.
2. If you’re in the armed forces and stationed in a combat zone, the filing and payment deadlines for your 2022 taxes are likely extended by 180 days. Your specific extended deadlines depend on your departure date from the combat zone.
3. If you made little to no money last year, you may not be required to file a return, but you may still want to if you’re eligible for a refund through refundable tax credits like the Earned Income Tax Credit. Use the IRS tool to determine if you’re required to file.
4. Remember that income isn’t just limited to your paycheck. Other potentially taxable and reportable income sources include interest on savings, investment income, part-time or seasonal work, unemployment income, social security benefits, tips, gambling winnings, and income from a rental property.
5. Organize your tax documents. You should have received all necessary tax forms from third parties like your employer, bank, or brokerage. Check your mail, email, and online accounts for any electronic documents. Common forms include W-2, 1099-B, 1099-DIV, 1099-INT, 1099-NEC, 1099-K, 1099-R, SSA-1099, and SSA-1042S.
6. If eligible, make a tax-deductible contribution to an IRA before April 18 to reduce your 2022 tax bill.
7. Proofread your return before submitting it to avoid delays caused by mistakes or oversights. Check your personal information, filing status, math calculations, and required fields.
8. If you can’t file by April 18, fill out Form 4868 to request an automatic six-month extension. Note that an extension to file is not an extension to pay, so estimate and submit any owed tax amount to avoid interest and penalties.
9. Pay what you owe electronically at IRS.gov for a more efficient process. If paying by mail, attach a check to your extension request form with a postmark no later than April 18. Credit or debit card payments will incur processing fees.
10. Remember to handle state income taxes separately by filing for an extension and making a payment to your state’s revenue department if necessary.
11. Use the IRS’s interactive tax assistant for basic questions regarding your individual circumstances on income, deductions, credits, and other technical matters.
