The Internal Revenue Service has added a page that will be updated with special filing season alerts and information for people preparing their tax returns or awaiting processing of a return or refund — as well as the latest updates on IRS letters or notices.
On Feb. 11, the IRS gave an update on the 2022 filing season. As of Feb. 4, the IRS has issued 4.3 million refunds worth a total of $9.5 billion.
Another update was released on Feb. 14 stating that the IRS has suspended more than a dozen automated notices, including collection notices. These notices are typically issued when a taxpayer owes additional tax or has no record of filing a tax return. However, for those who have a filing requirement and have yet to file a prior year tax return or pay any tax due, interest and penalties will continue to accrue.
The IRS also provides general information about the 2022 tax season via this new alert page.
If you received advance child tax credit payments in 2021, you’ll need to ensure that the amounts received are entered correctly on your 2021 tax return. Incorrect amounts submitted likely means that the IRS will need to further review the tax return, delaying your potential tax refund. The correct amount can be viewed through your online account on IRS.gov.
All third-round economic impact payments have been issued, but you may claim any remaining stimulus money on your 2021 tax return as part of the 2021 recovery rebate credit. The IRS is mailing letters to payment recipients about the stimulus payments amounts they received; however, you can also view the amount through your online account.
The filing deadline for most taxpayers is April 18, but if you need more time to file, there’s an automatic six-month extension for anyone by filing Form 4868. If your tax return from 2020 has still not been processed, the IRS advises you to still file your 2021 tax return.
The IRS is also reminding those who received an interest payment for a tax-related issue in 2021 to report it as income on their 2021 tax return.
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