Tips you need to know before filing taxes
With tax season underway, there are some resources that you can take advantage of that you might not know about.
A spokesperson with the Internal Revenue Service says with phone volumes continuing at historic levels, they want to remind the public that their website should be the first stop for taxpayers seeking information and help with their taxes.
On the website you can prepare and file your taxes online for free. You can also set up direct deposit for your refund if you have one, which is the fastest way to get your money.
You can also track your refund status with their “Where’s my refund?” tool. You will need your social security number, filing status and your exact refund amount.
According to the IRS, most refunds are issued within 21 days however some may take longer due to different reasons.
Some of these reasons could be the return includes a claim for the earned income tax credit or additional child tax credit, the time the IRS issued the refund and the bank posting it to an account may vary. The return may require additional review, the return could have errors or be incomplete or the return could be affected by fraud.
The IRS will contact you by mail if more information is needed to process a return.
Some taxpayers may qualify for free income tax preparation through the Volunteer Income Tax Assistance, a program offered by the IRS. This program is for taxpayers who earn 58 thousand dollars or less, taxpayers with disabilities and limited English speaking tax payers.
There is also tax counseling for for the elderly. This program is for people ages 60 or older specializing in questions about pensions and retirement related issues.
The filing deadline to submit 2021 tax returns or an extension to file is April 18. Tax payers requesting an extension to file have until October 17.
If you would like to learn more about these resources, visit our website at https://www.wbbjtv.com/ and click on the ‘Seen on 7’ section.
