What Do I Need To Know About Filing Taxes In 2022?

It is almost tax time again, and people have a lot of questions. There always comes a point in the year when virtually everyone scrambles around to figure out what they need to do to get their taxes done and make sure they are done properly. If you have found yourself in the same boat, we want you to know that we take your questions seriously here at Lion Rex ATA. We are a full-service accounting firm and tax consultant, and we are happy to provide you with the help you need during this stressful time of the year.

How Do I File My Taxes in 2022?

The vast majority of people will file their taxes electronically in 2022. Electronic filing used to be something of a novelty in years gone by, but it is much more common now. Since most people have access to the Internet in their homes, there is hardly an excuse to not file your taxes electronically anymore. That said, you do still retain the option to file them via the mail if you wish, but you should expect the process to take longer if you do it that way.

What Do I Need To Know Before Filing Taxes in 2022?

Filing taxes in 2022 will be a little more complicated than normal because there are a lot of additional federal and state programs introduced in the last few years that relate to COVID relief and other processes. As such, it is not surprising to learn that some people are trying to get a jump start on filing their taxes for this year so they can hopefully stay ahead of the curve on things like this. Here are a few things that you will want to think about when it comes to filing your taxes in 2022:

  • Stimulus Checks – If you did not receive the full amount of money from the stimulus checks already, you can get that money when you file your taxes this year.
  • Child Tax Credit – There are new piles of money available to those with children at this time. If you did not already get the Child Tax Credit, you will want to check on this right now to see if you qualify and for how much.
  • Unemployment Benefits – You DO have to pay taxes on unemployment benefits, and you need to report those benefits when you file your taxes.

There are many other elements related to what goes into filing taxes at this time, and you should try to pay close attention to how you need to get this job done. If you have questions, we are always here to help, and we hope that you will bring those questions to us. We strongly believe that we are your best provider of information since our people work on tax situations all the time. Nothing that you bring will shock or surprise us, and we will dig deep to make sure you get the maximum refund you are entitled to.