Welcome to 2023 - unless you're time-traveling with the IRS where it's 2022...

The 2022 tax season deadline is fast approaching, and it is important to start preparing now to ensure a smooth and stress-free filing process. With the pandemic approaching rearview mirror status, there may be changes to the tax laws and filing procedures that you should be aware of. In this blog post, we will provide an overview of what to expect during the 2022 tax season, including important deadlines, changes to the tax laws, and tips for getting your taxes done efficiently.

One of the most important things to keep in mind is the deadline to file your taxes. The deadline for submitting your tax return is April 18th, 2023.  If you need more time, an extension date may not be coming, or it's TBD.  However, it is important to note that any taxes owed must still be paid by April 18th, 2023, to avoid penalties and interest.

Another important thing to keep in mind is The Child Tax Credit, which was temporarily increased to $3,000 per child under the age of 17 during the pandemic to help families financially, will be lowered back to $2,000 per child for the 2022 tax year.  This change may result in a lower refund for some taxpayers, and we encourage you to take advantage of all other deductions and credits that may be available to you.

In addition to keeping track of important deadlines and changes to the tax laws, there are also several steps you can take to make the tax filing process go more smoothly. These include keeping accurate records of all income (personal and business) and expenses, taking advantage of tax-saving opportunities, and seeking professional advice if needed.

It's hard to acknowledge but, the 2022 tax season is here, and it is important to start getting your documents together now to ensure a smooth and stress-free filing process. Keep track of important deadlines, stay informed of changes to the tax laws, and take steps to make the process go more smoothly. And remember to seek professional advice if needed.

Our team of experts at BYB Tax can help you navigate the tax laws and regulations, and ensure that you claim all of the deductions and credits that you are entitled to so that you can get the best return possible.  Don't wait until the last minute, and risk missing out on potential deductions and credits. Upload your tax documents today or visit BYBTax.com to learn more about our services. We will work with you to ensure that you have a stress-free tax season and that you get the best return possible.

Wishing you a successful tax season,

BYBTax.com

Always here | Never Outsourced | Full of Solutions

Written by K. Miller, PSM I

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