The IRS has released a reminder checklist for taxpayers as they prepare to file their 2022 tax returns.
By taking the following steps, Americans will make it easier to prepare taxes in 2023, avoiding errors and delays in refunds:
1. Gather your tax documentation and records to verify their accuracy and avoid missing a deduction or credit.
Some of the information they need before getting started includes:
– Social Security numbers for everyone listed on the return
– Bank account and routing numbers
– Tax forms such as W-2, 1099, 1098 and other income documents or digital asset transaction records
– Form 1095-A, Health Insurance Marketplace Statement
– Any letter from the IRS that mentions an amount received for a certain deduction or tax credit
2. Report all types of income on the return.
This is important to avoid receiving a notice or bill from the IRS. Be sure to include income from:
– Goods created and sold on online platforms
– Investment income
– Part-time or seasonal work
– Self-employment or other commercial activities
– Services provided through mobile applications
3. File electronically with direct deposit to avoid refund delays.
Tax software helps people avoid mistakes when doing calculations. The IRS recommends avoiding paper returns.
4. Use the free resources available to help eligible taxpayers file online.
Free help may also be available to qualified taxpayers. The IRS Free File offers a free online alternative to filing a paper tax return. IRS Free File is available to any individual or family who earned $73,000 or less in 2022. People who earn more than $73,000 can use the IRS Free File Fillable Forms.
5. Choose a tax professional carefully.
Because there are dishonest tax return preparers who file false tax returns, the IRS recommends using the Directory of Federal Tax Return Preparers with Select Qualifications and Credentials and consulting “Choosing a Tax Professional” online at IRS.gov. .
6. Use online resources before calling the IRS on the phone.
To save time, the agency encourages taxpayers to use the resources available on IRS.gov:
– Get answers to your tax questions
– Check the status of a refund
– Pay taxes
– Use online tools and resources that are available 24 hours a day.
– Follow the official IRS social media accounts to stay up to date on the latest tax issues and alerts.
You may also like:
– Earned Income Tax Credit: How to take advantage of it this tax season
– What can happen if you do not pay your taxes in the United States
– IRS asks taxpayers to choose a tax professional carefully