For taxpayers, tax season can be an exciting time. It can mean a big refund that you can use to pay off debt or to buy something special. But when will you receive your tax return in 2022?
When Are Tax Returns Due for 2022?
The due date for filing taxes for the 2022 tax year is April 15, 2022. This is the same due date that has been in effect since 1955, although the IRS does allow for extensions when needed. Taxpayers should remember that the due date for filing taxes is not the same as the due date for paying taxes. For example, if you owe taxes, you must pay them by April 15, 2022, or you could face penalties and interest charges.
When Can I Expect My Tax Refunds?
The IRS usually begins processing tax returns in late January or early February. However, it can take up to 21 days for the IRS to process your return and issue your refund. In some cases, it may take longer if the IRS has to verify information on your return or if you mailed in your return. You can check the status of your refund using the IRS's "Where's My Refund" tool.
What If I Owe Taxes?
If you owe taxes, you must pay them by April 15, 2022. You can submit payment online through the IRS website, mail in a check, or pay by credit or debit card. If you cannot pay the full amount by the due date, you can set up a payment plan. You can also submit an offer in compromise to settle your debt for less than the full amount. It is important to note that penalties and interest charges may be applied if you do not pay your taxes on time.
What If I Need to File an Extension?
If you need more time to prepare your tax return, you can file for a tax extension. This will give you an additional six months to file your return, but it does not extend the due date for paying any taxes that you may owe. You must still submit payment for any taxes due by April 15, 2022. You can file for a tax extension online through the IRS website or by filing Form 4868.
How Can I Check the Status of My Refund?
You can check the status of your refund by using the IRS's "Where's My Refund" tool. You will need to enter information from your tax return such as your Social Security number, filing status, and the exact amount of your refund. The tool will provide you with information about the status of your refund including when it was processed, when it was released, and when it should arrive in your bank account or mailbox.
Are There Other Ways to Receive My Refund Quicker?
Yes, there are a few ways to receive your refund quicker than waiting for it to come in the mail. You can choose to have your refund direct deposited into your bank account. You can also choose to receive a prepaid debit card from the IRS. Finally, you can use a tax preparation service that offers to advance your refund before it is issued by the IRS. These services usually charge a fee, so it is important to read the fine print before using one.
Conclusion
Tax season can be a stressful time, but it can also be a time of excitement when you will receive your tax return. Knowing when to expect your refund can help you plan for any expenses you may have. Generally, taxpayers can expect to receive their refunds within 21 days of filing their returns. Taxpayers can also use the IRS's "Where's My Refund" tool to check the status of their refunds. Finally, taxpayers can use services that offer to advance their refunds if they need the money sooner.
