It’s a new year, and while we may have a variety of hopes for the coming year — a cessation or at least a lessening of disease and war might top some lists — one of the things that you can be sure you’ll have to deal with are your annual taxes. (The usual quote about death and taxes goes here.)
While tax day traditionally has been set for April 15th, this year, we have until Tuesday, April 18th. (April 15th is a Saturday, while the following Monday is Emancipation Day, which is an official holiday in Washington, DC.)
One thing to be aware of is that, while there were a number of changes that were in force during the pandemic, the IRS is slowly pulling back on them. They are listed on this page; in short, these changes include: no stimulus payments happened in 2022 (so you can’t claim credit for any you didn’t get); tax credits such as the Child Tax Credit are going back to 2019 levels; and if you don’t itemize and take the standard deduction, you won’t be able to deduct charitable contributions. On the positive side of the ledger, more people may be eligible for a premium tax credit, and the Inflation Reduction Act of 2022 may qualify you for a Clean Vehicle Credit.
Confused yet? Try not to worry — we’re going to list some resources that are available so that you can prepare your taxes and pay them online. As always, it might not be a bad idea to start working on those taxes as soon as possible to avoid any last-minute panic (especially since, according to the IRS site, there are still lingering delays due to the pandemic). And whether you’re a full-time worker dealing with a single 1040 or a freelancer / gig worker getting a series of 1099s, the fastest way to pay the piper these days is to do it online.
The IRS offers a series of directions on its website to help US citizens figure out their taxes, report those taxes, and send in payments (or ask for refunds) using its e-file online method. Here’s a rundown of what’s available and where you can find it.