As we all know, the four seasons are baseball, football, basketball and tax. Those who have been eagerly awaiting 2022 tax season need wait no longer! IRS is ready to receive 2021 tax returns. If you have all the necessary information, file now to speed those refund dollars into your eagerly waiting fingers.
IRS is shorthanded this year — like all employers, they’re dealing with omicron absences — and that means it’s more important than ever to file electronically. Paper returns may crumble into dust before remaining IRS staff get around to processing them.
Reminder: If your return includes a claim for earned income credit or additional child tax credit, IRS isn’t allowed to issue a refund until mid-February, even if you file the return right away. The law requires this pause to give the IRS extra time to weed out fraudulent refund claims based on those credits.