Federal Income Tax Deadlines in 2022

Oct 31, 2023 By Triston Martin

What is Tax Day 2022?

April 18, 2022, is the deadline to file your 2021 taxes. The U.S. government usually designates April 15 as the due date for taxes each year. April 16th is Emancipation day in Washington. Since it falls on Saturday this year, the official holiday will be observed on April 15. The date of April 15th, Tax Day in America, has been the same since 1955. The IRS extended filing and payment deadlines to the 2019 and 2020 tax years due to the COVID-19 pandemic. However, you shouldn't expect extra time to submit your 2021 return and pay the taxes. Around the end of January, the IRS began accepting tax returns from 2021. Taxpayers have an even greater incentive to start working on their 2021 tax returns, given the rule changes that will be in effect in 2022.

Important Information for Taxpayers

The IRS encourages individuals to search online before calling. The last filing season saw more than 145,000,000 calls between January 1 and May 17. This is more than the average annual number. The IRS offers a range of free services to taxpayers. These include free assistance at tax counseling for seniors and volunteer income tax assistance.

The average tax refund last year was over $2,800. The 2021 tax year will see more than 160 million tax returns filed. Most of these tax returns will be filed before the April deadline. The IRS expects most taxpayers to get their refunds within 21 days after they file electronically. Taxpayers and tax professionals are encouraged to file electronically by the IRS. People should not file paper returns to avoid delays in processing.

Manual review may be required for some electronic returns filed or on paper. This can delay processing if systems detect an error and missing information or if there is suspicion of identity theft or fraud. Some situations may require us to communicate with taxpayers; others do not. These cases require special handling by IRS employees. The IRS may take more than 21 days to issue any refund in these cases. The IRS will explain to taxpayers in cases where it is possible to correct the return without having to correspond.

What Is The Best Way to File An Extension?

If you require more time to prepare your 2021 tax return, you can request an extension. You must submit Form 4868 before April 18, 2022, deadline. The IRS states that you must pay the estimated income tax due when filing Form 4868 to avoid interest and penalties. Taxpayers are generally granted a six-month extension to file Form 4868 or 2 months. If you live outside the United States or Puerto Rico, you can request an additional four-month extension. However, this must be done by the due date that you were given with your original two-month extension. To be eligible for an extension, you must submit Form 4868 by April 18, 2022. Unless your request is denied, you will not be notified.

What Are The Taxes Due When I File An Extension?

You will have to file Form 4868 if you receive an automatic six-month extension. This will give you until October 17, 2022, to file your 2021 tax returns. You should file Form 4868 as soon as you know you will need it. This will ensure enough time to correct any mistakes and submit your application again before the April 18 deadline. You'll also have plenty of time to prepare your documents for the October extended deadline. You can find all forms, deadlines, and information on the IRS website.

How to File Your Tax Return Online

If you have not missed the deadline, you might consider e-filing your late return. If their AGI was less than $73,000 in 2021, many taxpayers could file electronically at IRS Free File. Other rules may apply, as imposed by individual software providers participating in the Free File Alliance. The IRS will accept electronic returns up to November. The IRS will announce the November cutoff date in October 2022.

Fail to Make Your Estimated Tax Payment by the Due Date

If you owe less than $1,000 in quarterly estimated taxes for the year, you may not be penalized for late payments. You'll be charged interest until you make the quarterly payment.

Inheritance Tax

Some states impose an inheritance tax. However, the federal government only imposes a tax on estates. Estate taxes are imposed upon the estate and not on individuals who inherit assets from it. Although estate taxes are not imposed automatically on the date of death they will be assessed at the time that an heir receives assets.

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