On Monday, individual taxpayers in the United States may formally begin submitting their tax returns for the year 2022.
The majority of taxpayers have until Tuesday, April 18 to complete their tax returns or seek an extension if they need more time. This is due to the fact that the customary deadline, which is April 15, comes on a Saturday, and that the following Monday, April 17, is a holiday in Washington, where the IRS’s headquarters are located.
If you are an individual, you have the ability to submit an extension request electronically by utilizing the “Free File” option provided by the Internal Revenue Service (IRS). You have until April to either hand in the completed form in person or print it out, fill it out, and ship it to the IRS address for your state with the postmark no later than April 18.
It is possible that it will offer filers more time to properly analyze their returns and take advantage of all the tax advantages, such as different deductions and credits, that are available to them in order to assist lower the amount of tax obligation they owe.
The submission of a request for an extension is not, contrary to popular belief, an automatic pass to avoid paying any taxes that are due to the government.
The vast majority of taxpayers can normally anticipate receiving a payment from Uncle Sam in the form of a refund. The amount of money may be significant for many different families: In 2022, over three quarters of taxpayers got a tax refund, with the average payout amounting to around $3,176. This was an increase from approximately $2,800 in 2021.
The Internal Revenue Service has emphasized that in order to get your refund within 21 days of completing your return, you must file your return online, guarantee that it is correct and complete, and request that the refund be sent by direct deposit.