Tax Filing Season Begins January 24

The following is adapted from a Department of the Treasury press release.

The Internal Revenue Service (IRS) has announced that the nation’s tax season will start on Monday, January 24, 2022, when the tax agency will begin accepting and processing 2021 tax year returns.

The January 24 start date for individual tax return filers will allow the IRS time over the course of the coming weeks to do additional programming and testing that is critical to ensure that IRS systems will run smoothly this filing season. It will also help taxpayers claim the remainder of their Child Tax Credit and remaining stimulus funds in a timely manner when filing their 2021 returns.

The IRS anticipates that most taxpayers will receive their refund within 21 days of when they file electronically, barring any issues with processing their tax return. The IRS urges electronic filing to avoid delays in processing and to utilize information letters provided by the agency when filing their returns to avoid errors that can lead to delays.

For most small business, including sole proprietorships, household employers, and C corporations, business taxes for the 2021 tax year are likely due April 18, 2022, due to Emancipation Day (a legal holiday in the District of Columbia) falling on April 16. For S corporations and partnerships, taxes are due March 15, 2022. For nonprofits whose tax year ends December 31, the tax filing deadline is May 16, 2022 and their extended deadline is November 15, 2022. You can view due dates for other exempt organizations here.

For help preparing and filing your taxes, contact us today.