Tax season is almost here and there are some changes
People can start filing taxes at the end of January, and the deadline is April 18, 2022.
But beware of people pretending to be the IRS. Scammers can call, text, or send someone a direct message, saying they need to collect debt or personal information, and that’s not how the IRS will contact them.
âThey’re also not going to require immediate payment or specific types of payment. So if you get these kinds of requests, don’t give out any personal information whatsoever and you can also report it to the IRS, âsaid Alexa Heter, accountant and owner of Heter and Associates.
The IRS will send letters, not texts, emails, or social media correspondence. They will not require specific payments and will have options and payment plans available.
For people who earn income under the table or through ancillary activities or even through means other than legal, according to the IRS, you must report it.
âSo the IRS passed an interesting proposal this year, which basically says that any type of income should be taxable. And that even included in that illegal income, gambling income. He told them they had to report if they stole. So basically the IRS wants anyone to pay taxes if you have some sort of income, âHeter said.
Uncle Sam’s stimulus checks are not considered taxable income, but taxpayers will still need to record the amount of money they received on their taxes.
“They are not taxable … But you have to report what you received on your income tax returns. That way, if you were underpaid, you get the difference with your tax refunds, âHeter explained.
To receive the stimulus checks, a person must have recently filed a tax return.
Families will also need to register if they received child tax credits in 2021, and in 2022, they will not be making advance payments.
âYou have to report what you have received so far in advance on your tax return, and that goes against the total credit you receive. So it will go against the $ 3,600 or the $ 3,000, depending on the age of the child, âHeter added.
She went on to say that there were still a few things unresolved because the Build Back Better plan was not passed, so issues like exclusion from unemployment have not been extended so far.
Last year people got an exclusion of up to $ 10,200 for unemployment benefits.