START GETTING YOUR 2022 INCOME TAXES READY

START GETTING YOUR 2022 INCOME TAXES READY

Start getting your 2022 income taxes ready. The IRS is encouraging all taxpayers to prepare ahead of time for the tax filing season. A little preparation ahead of time can prevent panic when the tax due date arrives. You may want to brush up on the changes in the tax code from the Trump Administration to President Biden. Filers can also get some information on the IRS website, IRS.GOV, and then visit the "Get Ready" page to find useful tips, guidance, and new tax law's pertinent to the 2022 tax year. Start getting your 2022 income taxes ready.

The easiest starting point is gathering your tax records for the year, and categorizing them. You might want to start looking at your deductions, expenses if you own a business, and find out ahead of time your tax bracket and the amount you will owe, or if you qualify for a rebate. The tax return information you will need must be sent to you by your employer by the end of January 2023. If you need any bank records, you may want to get a head start, as those can take some time, depending on how far back they go. You might want to make sure your mailing address is updated, if you moved, so your bank or employer will have the proper address to mail to. Some people don't like doing any of this at all, and for them we recommend a Tax Resolution Company.

TAX RESOLUTION SERVICES

The IRS has what is known as the Tax Withholding Estimator. As the name suggests, it allows you to determine the correct withholding, so if you withheld too little and owe the IRS, you can correct it to make sure the proper amount is being withheld. It goes thru everything you need to make specific calculations, including your proper status, income amounts, deductions, etc. Once you have used it once, it can become a tool in your tax arsenal, to make sure you stay on top of your withholdings in the future.

Now if you messed up and have a tax debt, or several years of Unfiled Tax Returns, you can always call a good 36 year old Tax Resolution Services firm for help. That way you can keep the IRS from issuing a bank levy, tax lien, or IRS Wage Garnishment on you.