Taxpayer 101: Tax Planning for Filing in 2022

Tax planning is for everyone. Get ready today to file your 2021 federal income tax return. Moreover, planning ahead will help you file an accurate return and avoid processing delays that can slow your tax refund.

collage of images related to tax returns containing pieces of W2 and 1040 forms and an April calendar page with the 15th date circled in red

What to Consider when Filing in 2022:

Taking the following steps now will make tax filing easier in 2022:

  • View your account information online
  • Gather and organize your tax records
  • Check your Individual Tax Identification Number
  • Make sure you have withheld enough tax
  • Have a bank account to speed the tax refund with direct deposit
  • Reconcile advance Child Tax Credit payments

Did you receive Child Tax Credit (CTC) payments? Then, you need to compare the advance payments you received with the amount you can claim on your 2021 tax return.

In January 2022, the IRS will send you Letter 6419 with the total amount of payments you received in 2021. Keep this, and any other IRS letters you receive about advance CTC payments you received with your tax records. Refer to them when you file.

  • Claim Recovery Rebate Credit

If you didn’t qualify for the third Economic Impact Payments or did not receive the full amount, you may be eligible for the Recovery Rebate Credit. This will be based on your 2021 tax situation.

In early 2022, the IRS will send you Letter 6475 to provide the total amount of your third Economic Impact Payment and any Plus-Up payments . Keep any stimulus payment letters from the IRS letters with your tax records and refer to them when you file. Also, you can log in to your online account to securely access your Economic Impact Payment amounts. To claim a 2021 Recovery Rebate Credit, you will need the total amount of your third Economic Impact Payment and any Plus-Up payments. This will help you file your return accurately and avoid a refund delay.

Migration Resource Center Tax Services

The Migration Resource Center staff has a team of tax consultants, tax attorneys, enrolled agents, and CPAs. We can assist you with tax planning as well as reducing tax. In addition, we provide workshops on the Citizenship Interview and Test, Taxes, and Personal Finance. We offer workshops both online and in traditional classroom environments.
Contact Migration Resource Center Taxpayer Services now for assistance with your taxpayer concerns. Use our online form or call (646) 827-2959.