By Herb Weisbaum, The ConsumerMan / Jan. 18, 2022
The start of the tax season is a little more than a week away. The IRS will begin accepting and processing 2021 tax returns on January 24.
This year’s return may hold a few surprises because of tax code changes put in place in 2021 to deal with the pandemic.
“When you go to file your return from last year, it could be a lot different than what you expect,” said Matthew Frankel, a certified financial planner who writes for The Motley Fool. “You could either owe more or less than you typically do, depending on how your income played out, the benefits you’ve got in terms of stimulus checks and child tax credit and other scenarios related to the pandemic.”
The IRS has already predicted processing delays. The quickest way to get your refund is to file early, file electronically, and use direct deposit. Requesting a paper check slows things down even more.
The filing deadline this year is Mon., April 18. That’s because of a holiday in Washington, D.C.
Need help? The IRS has an Interactive Tax Assistant on its website that can provide answers to common tax law questions, such as if a type of income is taxable, if you’re eligible to claim certain credits, or if you can deduct certain expenses.
More Info: Important Tax Law Changes That May Affect Your 2021 Tax Return
