Tax professionals explain how to navigate 2022 tax season
JACKSON, Miss. (WLBT) - Tax professionals say we’re now in the third year of complicated tax seasons.
From tax law changes to life changes caused by the pandemic, filing your taxes can be hard get right.
Tax preparers say you’ll get the regular paperwork like the 1099 and W2 that people are used to, but this year a new set of documents related to that third stimulus payment that happened in March of last year will need to be reconciled on taxes especially if you’re due more money or have a new child.
Some will get information related to the advanced child tax credit.
Experts say there’s a new program for 2021 where taxpayers are getting up to half of their expected benefit.
Forty-million unemployment statements will be sent out for people that claimed that this.
“You want a complete and accurate tax return of course but if you leave something off your tax return or something doesn’t reconcile, different from years past somebody would take a look at it down at the IRS,” said Mark Steber, chief tax information officer of Jackson Hewitt Tax Service.
“The IRS is having the same types of issues as other companies are. Employees are not on site or working virtual, they don’t have access to everything. So if your tax returns are not completely accurate you might leave yourself days, weeks or in some cases months of delays of getting your tax refund.”
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