Tax season set to begin January 24; IRS gives advice to filers
FAIRBANKS, Alaska (KTVF) - Tax season is here, and the Internal Revenue Service (IRS) has advice for those looking to file.
Starting on January 24, the IRS will begin processing returns from 2021 income.
If a person received a stimulus payment in March of last year, the IRS will be sending them a letter to have on hand. This letter will help the individual file their taxes correctly. However, the stimulus check does not count as taxable income.
If a person didn’t receive a payment but were eligible, they can file for what is known as a Recovery Rebate Credit, which could reduce their tax burden.
According to the IRS, there are ways to get one’s tax refund back faster.
Spokesperson David Tucker II explained, “We really encourage people to file electronically if they can, and also if they’re due a refund, to request direct deposit. That is the fastest way to get your tax return processed, as well as getting a refund in hand, is by doing electronic filing and then requesting direct deposit.”
The deadline to file taxes in Alaska this year is April 18th, as the 15th falls on a holiday in 2022.
All taxpayers can also request a 6-month extension. However, this only delays the filing deadline. The deadline to pay what you owe will still be April 18th, after which interest may accrue.
More information and tips from the IRS can be found here.
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