For some, tax season can be one of the most stressful times of the year. Why? Oftentimes, people wait until a couple of days before the April 15 tax deadline in order to get everything done. Well, in order to get ahead of the tax deadline, you may want to consider filing your taxes at the start of tax season. One of the most beneficial aspects of working with MBA Financial & Accounting Solutions is that their expertise is now yours. We even offer a FREE consultation for your business when you first meet with us. Here, we will reveal when tax season starts for 2022 and what you can do to make your tax filing tasks as stress-free as possible.
What is Tax Season?
Tax season is the period from late January to the April 15 filing deadline when you can file your taxes with the Federal government. In addition to filing your Federal taxes, you can also file your state and local taxes. During this time, local, state, and federal governments will process your tax filing and pay your tax refund (If you are owed money).
When Does Tax Season Start in 2022?
For 2022, tax seas start on January 24. This is an improvement over 2021 when tax season started in early February. What does that mean? That means that you can go ahead and file your taxes at this time. Once you have filed your taxes, you will be able to get your tax refund in about two to six weeks. Therefore, if you are looking to get your tax refund right away, you will want to file your taxes right after January 24, 2022.
When Should You File Your Taxes?
If you are looking to get your tax refund as soon as possible, then you should file your taxes from late January to early February If you are looking to have an accountant work on your tax return, then you should meet with your tax accountant before mid-March. This is because tax accountants will have their calendars filled by that time of the year.
What Are the Benefits of Filing Taxes Early
There are a number of smart reasons why you will want to file your taxes early. The first major reason why you want to file your taxes early is that you can get your tax refund earlier. This allows you to have access to money that is essentially yours. Also, you will want to file your taxes earlier to avoid the stress of doing everything at the last minute. Finally, you are likely to have a tax accountant assist you when you hire them in late January through mid-March.
Can You File Taxes After the April Deadline?
Yes. It is possible to file your taxes after the April 15, 2022 deadline. However, you will have to file a request for an extension. If you do not file a request for a tax extension, then you will have to pay penalties as well as interest if you own money to the IRS. You can file for an extension on your federal taxes by using IRS form 4868.
How to Easily File Your Taxes
If you are looking to file your taxes as easily as possible, then you will want to consider two options: File online or use a tax accountant. Here’s a look at the benefits of each:
It’s really inexpensive to handle all of your tax returns online. If you have a taxable income below a certain level, you can even file your taxes for free using certain online tax return software.
Doing your taxes online is easy because the software will guide you through the process. In most cases, you can be done in under two hours.
The online software will double-check all of your information and make sure it is correct before you file.
Benefits of Using a Tax Accountant
There are a number of reasons to consider using a tax accountant. Here’s a look at the top benefits of getting a pro to handle your taxes.
Great for complex returns
If you have a complex return that includes multiple investments and businesses, then a professional tax accountant will help you properly file your taxes and even help you minimize your tax burden.
Better if you are busy
If you are a busy professional, then you may not have time to file your taxes. A tax accountant will be able to handle all the heavy lifting for you.
Getting Ready For Tax Season
Make sure you know when to file your taxes. Tax season in 2022 starts on January 24. The earlier you start, the better! The executives at MBA Financial & Accounting Solutions can help get you prepared for this year’s tax season. Make sure to call 800-576-5746 and receive your exclusive offer.