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Tax time is officially here: The IRS began accepting and processing returns for the 2021 tax year on January 24.
Whether you’re expecting a refund or worrying about your bill, you need to mark some important dates on your calendar.
First, if you haven’t received your W-2 form in the mail, you should get it as soon as possible. You know, those little pieces of paper showing your paycheck and taxes — all the money that’s been deducted from your paycheck.
The deadline for employers to send W2 tax documents is January 31.
But you still have a few months to figure out how to file your taxes.
This year, the IRS has allowed most taxpayers until April 18, 2022 to file their 2021 tax returns or defer filing and paying the taxes they owe.
When are taxes due in 2022?
April 18.
That’s when you’ll need to file your 2021 tax return.
Fun fact: A common “tax day” is April 15th.But the deadline was pushed back to April 18 this year due to the Emancipation Day holiday in Washington, D.C.
There are several exceptions to the general tax filing deadline of April 18.
- Maine and Massachusetts tax filers must file their taxes for this year by Tuesday, April 19, because Patriots Day falls on April 18.
- Tornado victims in Illinois, Tennessee and Kentucky — as well as victims of the Colorado wildfires — must file and pay their taxes by May 16, 2022.
If these exceptions do not apply to you, you will need to electronically file or postmark your personal tax return by midnight.
What filing form should I use?
You need to use Form 1040 and pay any taxes you may owe.
In the past, taxpayers could choose from two other forms—the 1040EZ and 1040-A—but those forms were phased out in 2019 after the IRS overhauled the 1040.
So, this simplifies things. You no longer need to worry about choosing the right tax form. Simply submit Form 1040 along with any applicable schedule.
If you are using tax preparation software such as TurboTax, it will guide you through the entire tax…
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