The Internal Revenue Service (IRS) recommends Americans get the information they need related to filing federal tax returns in 2022 from the agency’s website. Special steps related to charitable contributions, economic impact payments and advance child tax credit payments are detailed below for your convenience.
Filing federal tax returns in 2022
What’s Happening in 2022? The IRS suggests taxpayers become informed about topics related to filing tax returns in 2022 as soon as possible. As the year is still 6 days away, most of what you need to know today is covered by information already available on IRS.gov. And, while you can’t (and shouldn’t) start preparing your tax return yet, you can be ready by creating an account on IRS.gov and choosing one of our many free file options for your tax situation for later use this season.
IRS Tax Forms for 2021
The IRS expects to release new tax forms and instructions in December 2021. To help taxpayers become informed about topics related to filing their federal tax returns in 2022, the IRS has published information on its website ). Use the new IRS Tax Topic pages to learn the changes of filing your 2022 tax returns, including steps related to economic impact payments, charitable contributions and advance child tax credit payments.
IRS Top 10 Topics
For the fourth year, the IRS has created a list of 10 topics related to filing your federal tax return in 2022. The topics include clarifying how updated inflation adjustments affect the value of certain tax benefits such as tax credits and filing status. Special procedures for charitable contributions, economic impact payments, and advance child tax credit payments are also included on the list.
To help generate awareness of these topics, the IRS has created an infographic that outlines the necessary steps for taxpayers to make to manage their tax paperwork correctly. By spreading this information, the IRS hopes to continue fostering an informed audience about yearly tax filing topics. Taxpayers will also be able to take advantage of newly updated online tools and online services that will ease their incoming tax preparation process. Similarly, software providers have developed new products that can be used by taxpayers.
Main areas to review:
1) Tax payers can tax deductions for charitable contributions even when they don’t itemize their returns.
2) Families need to compare the amount of advanced child tax credits they received to the actual credit they should have received, and make adjustments as needed.
3) Individuals that did not receive a full recovery rebate credit in 2021, will need to file to get the credit.