April 15 is traditionally Tax Day, but because it falls on a Saturday and the next weekday, April 17, is recognized as Emancipation Day In Washington, D.C., Tax Day 2023 is on April 18 everywhere. By law, that affects the tax deadlines for all Americans. (Shutterstock),
ACROSS AMERICA — Some 90 million Americans have filed their 2022 income tax returns as the April 18 filing deadline approaches, about 1.1 million fewer than at this time last year, according to the Internal Revenue Service.
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The deadline to file 2022 state income tax returns is also April 18 in all but a handful of states — Delaware, Iowa, Louisiana, Maine, Massachusetts and Virginia — that set different deadlines.
Most taxpayers have three extra days to file their tax returns this year. April 15 is traditionally Tax Day, but because it falls on a Saturday and the next weekday, April 17, is recognized as Emancipation Day In Washington, D.C. , Tax Day is April 18. The D.C. law affects the tax deadlines for all Americans, just as other federal holidays do.
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April 17 is also Patriots’ Day in Maryland and Massachusetts. In some years, that puts those states’ filing deadlines a day later, but not this year because of the Emancipation Day holiday.
Some individual and business taxpayers in some states affected by natural disasters — most of California and parts of Alabama and Georgia — have until Oct. 16 to file tax returns. The extension is available in Federal Emergency Management Agency-designated as disaster areas. The current list of eligible localities and other details for each disaster are always available on the Tax Relief in Disaster Situations page on IRS.gov.
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Previously, the filing deadline in those areas had been postponed by a month to May 15. Moving the deadline farther out means, among other things, that eligible taxpayers will have until Oct. 16 to make 2022 contributions to their IRAs and health savings accounts.
Also, the IRS previously said that taxpayers in several states will not have to report state-issued inflation and disaster relief payments on their 2022 returns. Those states are California, Colorado, Connecticut, Delaware, Florida, Hawaii, Idaho, Illinois, Indiana, Maine, New Jersey, New Mexico, New York, Oregon, Pennsylvania and Rhode Island and Alaska.
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Additionally, many people in Georgia, Massachusetts, South Carolina and Virginia will not have to report state assistance payments if they meet certain requirements. For these individuals, state payments will not be included for federal tax purposes if the payment is a refund of state taxes paid and either the recipient claimed the standard deduction or itemized their deductions but did not receive a tax benefit.
As of March 31, the IRS had paid out $183.130 billion in refunds for tax year 2022. That’s down 10.4 percent from last year’s total of $204.405 billion.
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The amount paid out per taxpayer is down as well, averaging $2,910 per person, compared to $3,226 a year ago, a decline of about 9.8 percent.
Here are some important things to know about filing your income tax returns:
- Families who don’t owe taxes can still claim key tax credits; those who qualify can still file their 2021 tax return and claim without penalty some or all of the 2021 Recovery Rebate Credit, the Child Tax Credit, the Earned Income Tax Credit and other tax credits. The IRS sent a letter to 9 million individuals and families who appear to qualify for a variety of tax benefit, but have not claimed them.
- Tax credits for families have reverted to pre-COVID 2019 levels, which is one of the factors making refunds smaller this year. The Child Tax Credit, the Earned Income Tax Credit and the Child and Dependent Care Credit amounts revert to pre-COVID levels.
- Some taxpayers may meet the income requirements and other eligibility criteria or the Premium Tax Credit.
- For 2022, third-party settlement organizations who issue Forms 1099-K are only required to report transactions for gross payments over $20,000 (not $600) and more than 200 transactions.
- During COVID, taxpayers were able to take up to a $600 charitable donation tax deduction on their tax returns. However, for tax year 2022, taxpayers who don’t itemize and who take the standard deduction, won’t be able to deduct their charitable contributions.
- Taxpayers who inappropriately received forgiveness of Paycheck Protection Program loans should file an amended return that includes forgiven loan proceed amounts in income.
- The Inflation Reduction Act of 2022 made several changes to the new clean vehicle credit for qualified plug-in electric drive motor vehicles, including adding fuel cell vehicles, and also added a new credit for previously owned and commercial clean vehicles
- The Inflation Reduction Act also amended credits for energy efficient home improvements and residential energy property.
- Taxpayers may also make a one-time claim for the alternative fuel credits.
The IRS encourages taxpayers and their tax professionals to file their tax returns electronically through IRS Free File or other e-file service providers.
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