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On January 23rd, the Internal Revenue Service opened the filing window for tax returns. According to reports, the IRS has hired 5,000 more workers in order to streamline the refund process, so early bird refunds could begin arriving as soon as next month for those who file early.

After Wednesday's report by the National Taxpayer Advocate, there seems to be some "light at the end of the tunnel" in terms of IRS customer service struggles. The credit goes to the IRS for the hiring of thousands of new employees and the investment of tens of billions of dollars in new funding provided to the IRS by the Democrats' climate and health law.

The IRS has trained thousands of new employees to help people while answering their phones. (according to Acting Commissioner Doug O'Donnell in a press release). "While much work remains after several tough years, we expect people to see improvements this year's tax season."

Tips for Tax Season

File Electronically:

Often, American taxpayers go to a tax professional for help with filing and processing their personal tax returns. In addition, the IRS is also offering a free online filing program for taxpayers whose income is up to $73,000 in 2022 and who file online.

Gather all your information before filing:

As part of the agency's campaign to encourage taxpayers to prepare their 2022 tax documents, such as their Social Security numbers, their Individual Taxpayer Identification Numbers, their Adoption Taxpayer Identification Numbers, and this year's Identity Protection Personal Identification Numbers, taxpayers are being urged to gather and organize them.

Taxpayers are advised to prepare an accurate tax return in order to avoid future delays or notices from the IRS.

IRS Free File Available January 13:

The IRS Free File program allows taxpayers making less than $73,000 in 2022 the opportunity to file their taxes electronically for free by using "brand-name software available from commercial tax filing companies".

As part of the Free File program, people can also receive free electronic forms that they can complete and submit at no charge to the company, regardless of their income level.

Check the Eligibility:

Before preparing a return for filing with the Internal Revenue Service, filers should make sure that they do not qualify for any tax credits, like the Additional Child Tax Credit or Earned Income Tax Credit, before beginning to fill out their return. It is expected that if a person qualifies for either of those credits, a refund should be provided to them at the earliest possible time in mid-February.

Those who live in an area where a natural disaster has been declared by the federal government, such as parts of California that have experienced flooding, or parts of Alabama and Georgia that have experienced severe storms, have until May 15 to submit their returns.

What is the Deadline To Submit Tax Returns Or File Extensions?

There has been no change in the six-month filing extension period. In order to request an extension, you must submit Form 4868 by April 18 in order to request an extension. Upon receiving approval from the IRS, the return will be due on October 16, which will automatically be granted. Tax returns for the 2017 tax year are expected to amount to about $168 million, according to the Internal Revenue Service.

When You'll Get A Refund?

It is estimated that most taxpayers will receive their refund within 21 days after filing electronically (only if taxpayers choose direct deposit and there are no problems with their tax return at the time of filing). Furthermore, as a result of Emancipation Day being celebrated on Monday, April 17, the taxpayers have until April 18 to send their paperwork, as well as a check to the Internal Revenue Service.

For more updates on taxes, you can visit myCPE to attend unlimited courses on tax ce webinars, Tax updates, IRS, etc. topics provided by industry experts speakers and earn credits for your continuing education. 

Jason Dinesen
Jason Dinesen
President, Dinesen Tax & Accounting, P.C.

Jason Dinesen (LPA, EA) is an entrepreneur, tax expert, and CPE Presenter. Dinesen brings over 15 years of experience helping individuals and businesses with accounting, bookkeeping, tax preparation, and business advisory in various industries. Dinesen is a regular CPE Presenter at MYCPE ONE. He has coached more than 200k+ accounting, taxes, and HR professionals on various topics of accounting, individual taxation, corporate taxation, and professional ethics. Jason has developed a strong following within the professional community for tax-related subjects. Dinesen is known for sharp tax interpretations, and he quickly brings his analysis of the latest tax updates and IRS guidance to the professional community.

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