2022 Tax Filing Year Summary

Posted on January 27, 2022 by Oozle Media

There were several tax law changes in 2021 that will most likely affect most Americans this upcoming tax season. One of those changes being the child tax credit. These payments could impact many families’ tax refunds. For the Americans who claim the standard deduction, they’ll most likely see a small but positive change.

IRS 2022 New Release for 2022

The IRS posted the first News Release for 2022. Here is a summary of the post.
Key dates:

• Electronic filing of tax returns begins on January 24th
• April 18th is Tax Deadline for Individual Returns
• October 17th is Extension Deadline for Individual Returns

Watch for IRS letters about Child Tax Credit payments and Stimulus Payments. If you received any of these payments, you will be required to report the amount of money you received. This will not be counted as income.
The IRS encourages tax returns to be filed electronically and choose direct deposit for your returns to be processed quicker.

More Key Dates to Pay Attention To

Key Dates:

• March 15th is Tax Deadline for Business Returns
• September 15th is Extension Deadline for Business returns

Need Help With Your Taxes?

Whether you’re an individual taxpayer or a business owner, we all know that taxes are just a part of life. And often, managing taxes can be difficult or just flat-out stressful. Let us help reduce that stress. Lightheart, Sanders, and Associates have been providing quality tax services to businesses and individuals for over 20 years. Contact us today with any questions you may have!