5 Tax Tips for Filing in 2022

5 Tax Tips for Filing in 2022

We’re officially in April, which means Tax Day is just around the corner—to help you get ready, we’ve gathered our five best blog posts to get your 2021 tax return done.

Look out for IRS letters on 2021 COVID relief

Early this year, the IRS sent official letters to help taxpayers accurately report COVID-19 relief on their 2021 tax return.

If you received the third stimulus payment (also known as EIP3) or any Child Tax Credit payments between July and December of 2021, these letters will help you accurately report your COVID relief.

Trouble with prior-year AGI? Here’s what to do

Since the IRS is still millions of returns behind, anyone whose 2020 tax return still hasn’t been processed could have a hard time coming up with their prior-year AGI this year.

Fortunately, the IRS has provided a simple solution. When you file online, make sure to pay attention to these rules and exceptions for proving identity with AGI.

ID.me and what you’ll need for an IRS Online Account

For a couple of weeks, it looked like anyone who used an IRS Online Account was going to need to use selfies or video calls to prove their identity via a company called ID.me.

The IRS has since walked back the selfie and video requirement, but they’re still using ID.me as their third-party security service. Here’s what you need to know about using ID.me to access your IRS Online Account.

Earned Income Tax Credit expanded for teens and more working taxpayers

The EIC was widely expanded not only in the amounts you can qualify for, but also how many people could potentially qualify for it, including at-risk youth and elderly taxpayers.

Since it’s refundable, the Earned Income Credit could even come as a refund if your taxes owed are already covered.

Repayment protection keeps some taxpayers from paying back protected from CTC repayment requirements

Did you get Child Tax Credit payments between July and December? If so, this one’s for you.

When you file your 2021 tax return, your Child Tax Credit can finally be calculated accurately since all the qualifying elements are set in stone (number of children, income amount, etc.).

That also means that you could owe any excess back when you file—unless, of course, you qualify for CTC repayment protection.

Feel good about filing your taxes

What a year it’s been! We’ve seen so many new rules and regulations, but here’s the good news: We’ve stayed on top of them so you don’t have to.

When you file with 1040.com, we’ll walk you through the process and ask questions designed to get every tax break you qualify for. Our flat $25 is for all your filing needs, from reporting COVID-19 aid to claiming tax credits and more.

Now that feels good.

Ready to get started? Sign up or log in, and we’ll show you how feel-good taxes are done.