Key points to keep in mind when filing 2022 tax returns

Gustavo Lopez

Writer
Key points to keep in mind when filing 2022 tax returns

To help taxpayers navigate the start of tax filing season, the Internal Revenue Service today offered a list of reminders for individuals as they prepare to file their 2022 tax return.

From collecting your documents to filing your tax return, these simple steps will make it easier to prepare your taxes in 2023:

1. Gather records and tax records to check their accuracy and avoid missing a deduction or credit.

Taxpayers should have all their important and necessary documents before preparing their return. This helps people file a complete and accurate tax return. Errors and omissions slow down tax processing, including return times.

Some of the information taxpayers need before getting started includes:

  • Social Security numbers of everyone listed on your tax return,
  • Bank account and routing numbers,
  • Various tax forms such as W-2, 1099, 1098 and other income documents or digital asset transaction records,
  • Form 1095-A, Health Insurance Marketplace Statement,
  • Any letter from the IRS that lists an amount received for a particular tax deduction or credit.

2. Remember to report all types of income on your tax return.

This is important to avoid receiving a notice or bill from the IRS. Be sure to include income from:

  • Goods created and sold on online platforms,
  • investment income,
  • Part-time or seasonal work,
  • Self-employment or other business activities,
  • Services provided through mobile applications.

3. Electronic file with direct deposit to avoid delays in receiving a refund.

Avoid paper returns. Tax software helps people avoid mistakes when doing their accounts. Guide people through each section of your tax return using a question and answer format.

For those waiting for their 2021 tax return to be processed, here is a special tip to make sure the IRS will accept your 2022 tax return for processing. Be sure to enter $0 (zero dollars) for last year's adjusted gross income (AGI) on your 2022 tax return. Everyone else must enter prior year AGI from last year's return.

4. There are free resources available to help eligible taxpayers file their return online. Free assistance may also be available to qualified taxpayers.

IRS Free File offers a free online alternative to filing a paper tax return. IRS Free File is available to any individual or family who earned $73,000 or less in 2022.

With IRS Free File, leading tax software providers make their products available online for free as part of a 21-year partnership with the IRS. This year there are seven products in English and one in Spanish. Taxpayers must access these products through the IRS website.

People making more than $73,000 can use the IRS's free fillable forms . These are the electronic version of the IRS paper forms. This product is ideal for people who are comfortable preparing their taxes.

Qualified taxpayers can also find free one-on-one tax preparation assistance nationwide through the Volunteer Income Tax Assistance (VITA) and Tax Counseling for Seniors (TCE) programs.

5. Choose a tax professional carefully.

Most tax return preparers are professional, honest, and provide excellent service to their clients. However, there are dishonest tax preparers who file false tax returns. The IRS has a list of federal tax preparers with select credentials and qualifications and more information on choosing a tax professional on IRS.gov.

6. Avoid phone delays; use online resources before calling the IRS.

To avoid waiting on hold, the IRS encourages people to use IRS.gov to get answers to their tax questions , check the status of a refund, or pay taxes . No wait times or appointments necessary – online tools and resources are available 24 hours a day. The IRS Interactive Tax Assistant tool and the Let Us Help You resources are especially helpful.

Additionally, the IRS advises taxpayers to stay up to date on important tax information online: