Do I need to file a tax return?
You need to file a tax return if your income is above a certain threshold, which depends on your filing status, age, and whether you can be claimed as a dependent by someone else. For 2022, the thresholds are:
- Single: $12,550
- Married filing jointly: $25,100
- Married filing separately: $5
- Head of household: $18,800
- Qualifying widow(er) with dependent child: $25,100
You may also need to file a tax return if you owe any special taxes, such as self-employment tax, alternative minimum tax, or household employment tax.
What documents do I need to file my taxes?
You need to gather all the documents that report your income and expenses for the year, such as:
- W-2 forms from your employers
- 1099 forms from your banks, brokers, payers, etc.
- 1098 forms from your mortgage lenders, student loan servicers, etc.
- Receipts and records of your deductible expenses, such as medical bills, charitable donations, business expenses, etc.
- Forms 1095-A, B, or C if you had health insurance coverage through the Marketplace, an employer, or another source
- Any other relevant forms or statements that affect your taxes
How do I choose a tax preparer?
If you decide to hire a professional to prepare your taxes, you should look for someone who is qualified, experienced, and trustworthy. Some of the credentials you can check are:
- IRS Preparer Tax Identification Number (PTIN), which is required for anyone who prepares federal tax returns for compensation
- Enrolled Agent (EA), which is a federally licensed tax practitioner who can represent taxpayers before the IRS
- Certified Public Accountant (CPA), which is a state licensed accountant who can provide various accounting and tax services
- Annual Filing Season Program (AFSP) participant, which is a voluntary program for non-credentialed preparers who complete annual continuing education and adhere to ethical standards
You can also check the preparer’s history with the IRS, the Better Business Bureau, and online reviews. You should avoid preparers who promise unrealistic refunds, charge fees based on a percentage of your refund, or ask you to sign a blank or incomplete return.
How do I file my taxes online?
You can file your taxes online using one of the following options:
- IRS Free File, which is a free service for eligible taxpayers with an adjusted gross income of $72,000 or less in 2021. You can choose from various brand-name software providers or use the Free File Fillable Forms if you are comfortable preparing your own taxes.
- Commercial tax software, which is a paid service that guides you through the tax preparation process and e-files your return for you. You can choose from various reputable companies that offer different features and prices.
- IRS e-file providers, which are authorized third-party businesses that can electronically transmit your return to the IRS for a fee. You can find a list of providers on the IRS website.
How do I track my refund status?
You can track your refund status online using the Where’s My Refund? tool on the IRS website or the IRS2Go mobile app. You will need to provide your Social Security number or ITIN, your filing status, and your exact refund amount. You can start checking your status within 24 hours after e-filing your return or four weeks after mailing it. The tool will update once a day and will show you one of three stages: Return Received, Refund Approved, or Refund Sent.
What if I can’t pay my taxes on time?
If you can’t pay your taxes on time, you should still file your return or request an extension by the deadline to avoid the failure-to-file penalty. You can then explore some of the options to pay your taxes over time or reduce your amount owed, such as:
- Installment agreement, which is a monthly payment plan that you can apply for online or by phone, mail, or in person
- Offer in compromise, which is a settlement that allows you to pay less than the full amount you owe if you meet certain criteria
- Penalty abatement, which is a reduction or removal of certain penalties if you have reasonable cause or qualify for first-time penalty relief
- Currently not collectible status, which is a temporary suspension of collection actions if you have no ability to pay