New York CNN — This tax season, the IRS has received over 100 million income tax returns for 2022. This means that there are still tens of millions of households that have yet to file their returns. If you still need to file, here are some last-minute tax-filing tips to keep in mind before the April 18 deadline.
1. Not everyone has to file on April 18: If you live in an area declared as a disaster area by the federal government, or if you have relevant tax documents stored in that area, the IRS has likely extended the filing and payment deadlines for you. You can find the specific extension dates for each disaster area on the IRS website.
2. If you’re in the armed forces and have been stationed in a combat zone, the filing and payment deadlines for your 2022 taxes are most likely extended by 180 days. Your specific extended deadlines will depend on when you left the combat zone. More information can be found in an IRS publication.
3. If you made very little money last year (typically less than $12,950 for single filers and $25,900 for married couples), you may not be required to file a return. However, if you think you are eligible for a refund due to refundable tax credits such as the Earned Income Tax Credit, you may want to file anyway. You can use the IRS tool to determine if you are required to file this year. If you are eligible, you can use IRS Free File, intended for those with adjusted gross income of $73,000 or less, to submit your return without any cost.
4. Remember that your paycheck may not be your only source of income. Other potentially taxable and reportable sources of income include interest on savings, investment income, pay for part-time or seasonal work, unemployment income, Social Security benefits, tips, gambling winnings, and income from a rental property you own.
5. Make sure to organize all your tax documents. You should have received tax forms from third parties such as your employer, bank, and brokerage. If you haven’t received a hard copy, check your email and online accounts, as the documents may have been sent electronically. Some of the tax forms you may have received include W-2, 1099-B, 1099-DIV, 1099-INT, 1099-NEC, 1099-K, 1099-R, SSA-1099, or SSA-1042S. Be aware that some taxable income, like rental income, may not come with a specific form, so you’ll need to report it on your own.
6. If you’re eligible to make a tax-deductible contribution to an IRA and haven’t done so for last year, you can still contribute up to $6,000 ($7,000 if you’re 50 or older) before April 18. This will lower your tax bill and increase your retirement savings.
7. Before submitting your return, make sure to proofread it for any mistakes or oversights. Simple errors can delay the processing of your return and the issuance of your refund. Check for typos in your personal information, verify your filing status, double-check your math, and fill out all required fields.
8. If you can’t file by April 18, you can request an automatic six-month extension by filling out Form 4868 electronically or on paper and sending it in by April 18. However, keep in mind that an extension to file is not an extension to pay. You will be charged interest and a penalty on any amount you still owe for 2022 but haven’t paid by April 18. If you suspect that you still owe tax, estimate the amount and send the money to the IRS by Tuesday through mail or electronically on IRS.gov.
9. If you owe income taxes to your state, remember that you may need to file for an extension and make a payment to your state’s revenue department as well.
10. If you have basic questions about your taxes, you can use the IRS’s interactive tax assistant, which can help answer over 50 common questions regarding income, deductions, credits, and other technical aspects.