IRS will start accepting returns January 24, 2022

 In Success Stories, Tax Tips

1/11/22 – IRS announced on Monday that they would start accepting and processing 2021 tax returns on January 24, 2022.

IRS Commissioner Chuck Rettig says, “The pandemic continues to create challenges, but the IRS reminds people there are important steps they can take to help ensure their tax return and refund don’t face processing delays. Filing electronically with direct deposit and avoiding a paper tax return is more important than ever this year. And we urge extra attention to those who received an Economic Impact Payment or an Advance Child Tax Credit last year. People should make sure they report the correct amount on their tax return to avoid delays.”

If you are a recipient of Letter 6419, 2021 Advance Child Tax Credit, or Letter 6475, the Third Economic Impact Payment, we strongly encourage you to keep the letters for your tax preparer. These letters include important information to ensure your 2021 return is filed accurately. If you file your return with inaccurate information, your return may need further review, which will delay a possible refund.

Typical refund turnaround is 21 days of receipt, but only if the tax return is filled out completely and accurately, filed electronically, and the taxpayer has opted for direct deposit. Additionally, while everyone can file beginning January 24th, the IRS is prohibited by law from issuing a refund due to the Earned Income Tax Credit or Additional Child Tax Credit before mid-February to prevent fraudulent refunds from going out.

Contact Erpelding, Voigt & Co., LLP for all additional questions.

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