With the official green light to start filing 2022 taxes, taxpayers can now start preparing all of their documents and get ready to file. However, this time of year can also lead to frustration, confusion, and lots of questions that can complicate the filing process.
To make things easier for taxpayers, the Internal Revenue Service (IRS) has compiled tips to help avoid some of the most common mistakes that occur when filing taxes.
Get as accurate as possible
Here are the IRS’ best tips to avoid any complications during tax season:
Make sure all information is as accurate as possible. This includes: bank account numbers, Social Security numbers, filing status, spelling of names, and wages. All of this information is vital to correctly process your taxes. When filing, be sure to check that all personal information is transcribed correctly on your taxes. Full names should match what’s on Social Security cards. All income and information used for deductions or tax credits must also be accurately recorded. If your bank account information is incorrect, this is going to delay your refund. Check all personal information before submitting your taxes.
Sign your taxes. Any unsigned taxes that are submitted will be considered invalid.
File on time. While tax filing has officially opened, taxpayers have until April 18 to submit their 2022 taxes. However, taxpayers should be sure that all of their filing documents have arrived and are in order before trying to submit taxes.
Find a trusted, reputable tax professional. While taxpayers are ultimately responsible for the information provided on their taxes, having the guidance and assistance of a tax agent can be helpful in ensuring everything is filed correctly.
File electronically. This is one of the best ways to avoid any potential errors. The IRS explained that math errors – regarding wages or calculating credits – are often the most common on tax forms. By filing electronically, the software will not only flag any errors, but it will also do all of the math for you. Tax software can also help verify that all calculations related to deductions or credits are done correctly.
Tax relief for storm victims in Georgia and Alabama
Earlier this month, the IRS announced that victims of the storms in California would be granted filing extensions for their 2022 taxes. Now, the agency has announced similar extensions for those in the path of storms in Georgia and Alabama.
Rather than submitting taxes by the current April 18 deadline, taxpayers in the affected areas have until May 15, 2023 to file individual or business returns or make tax payments.
In Georgia, the affected counties include: Butts, Henry, Jasper, Meriwether, Newton, Spalding, and Troup. In Alabama, taxpayers in Autauga and Dallas counties qualify for the tax extension.
To check eligibility and learn more about the tax extension, taxpayers can access the Disaster Assistance and Emergency Relief for Individuals and Businesses.