Here are some useful things to know before you file your taxes for the first time.
TAX SOFTWARE DEALS OF THE WEEK
1.
For freelancers, gig workers or the self-employed, you should receive a 1099 or 1099-MISC from multiple employers.
Along with those forms, you’ll need the following to file your taxes:
3.
Deductions and credits allow you to lower your tax bill or increase your refund.
you’re free to claim your missing money on your 2021 tax return as aRecovery Rebate Credit.
Tax returns are due Apr.
That said, filing your tax return sooner is the safest bet.
The IRS announced in abriefingin early January that this tax season is also expected to be challenging.
(Last year millions of refunds were delayed for months.)
The pandemic and shortage of IRS agents could also impact this timeline.
you’re able to find all relevant forms and instructions online atIRS.gov.
Filing by hand can be a tedious process that places the stress of potential mistakes on your shoulders.
Over 90% of Americans file their tax returns with online tax software.
Many states have their own (usually free) online tax platforms.
Check outCNET’s comparison of tax software and servicesto see which is best for you.
Your state tax return deadline is likely the same as the federal return deadline: April 18.
