Tend to this new 2022 taxation processing season be typical?
Covid-19 remains a problem, numerous stimulus taxation rules remain be challenging for the majority filers, and you may the brand new income tax laws and regulations was introduced upcoming one put much more complexity.
Nevertheless taxation submitting process is actually nearer to typical than simply either 2020 or 2021 have been, which both got offered processing deadlines because of closures off Internal revenue service organizations, this new income tax process of law, and you will Internal revenue service and you may taxation organization employees getting new to remote performing.
In other words. be ready to have your taxes filed (or an automatic extension filed) because of the Saturday, . (Why not April 15? Emancipation Day.) The good news is that the federal and state income tax returns filing process should be closer to normal, as well. Depending on when a taxpayer files, they can often receive their tax refund payments (check or direct deposit) within only 2-3 weeks.
As with pre-Covid years, early tax filers who are a due a refund can often get their money as early as mid or late February. However, taxpayers with the Earned Income Tax Credit or Child Tax Credit generally have their refunds delayed by about one month while the IRS confirms eligibility for these credits.
Although the last two tax filing seasons were significantly impacted by the Covid-19 pandemic, and the IRS extended both deadlines, the IRS did not extend the tax filing deadline for 2022.
The below chart shows an projected timeline for when a taxpayer is likely to receive their refund, based on the information we have now; using projections based on previous years; and depending on when a person files their return. If your IRS income tax refund is delayed after you’ve filed, ask your tax professional, or simply use the “Where’s My Refund?” tool on the IRS website. Or download the IRS2Go application to installment loan Vermont check your refund status.
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