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Although you have until spring to file a federal tax return, starting this process early means the IRS can process your paperwork faster, giving you access to your refund. When preparing to file, you might have some questions about what you need to do and what you should expect. Here is more information about when you can file and some steps to ensure you do so properly.

When Can You File a Tax Return?

January 3 is the first day you can file a federal tax return by mail. However. The IRS will not accept electronically filed or free-filed returns until January 24. Even if you mail your return in early January, the IRS won’t process it until later in the month. On January 24, the E-file portal will open on the IRS website.

The tax filing deadline for most taxpayers for the 2021 filing season is Monday, April 18. If you need more time, you can request an extension. This automatic request extends your deadline to file until Monday, October 17, 2022. April 18 is also the deadline to request an extension.

How Can You Get a W-2 Early?

federal tax return

Most people will receive a W-2 from their employer by February 1. This is the same date by which you should receive any 1099 documents if you are an independent contractor or small business owner. However, if you want to receive a W-2 earlier, ask your employer’s human resources department to provide it.

If you haven’t received your W-2 by February 1, contact your employer to ask when they sent it and verify the address they mailed it to. If you haven’t received the documents by February 14, contact the IRS for assistance.

What Are the Benefits of Early Filing?

Filing your federal tax return early reduces the stress associated with last-minute filing. You may also find it easier to schedule a convenient appointment with a tax professional, as they are not as busy during the beginning of the tax season. This gives them time to ensure your documents are accurate, helping you get the maximum deductions.

Additionally, the IRS typically issues refunds on a first-come, first-served basis, meaning the earlier you file a federal tax return, the sooner they pay you. Early filing may even reduce your risk of fraud. If an identity thief attempts to file a return using your social security number after you’ve filed, the IRS will reject them. While you can rectify identity theft with the IRS, it is a complicated and time-consuming process.

 

If you need help filing a federal tax return, contact PMC Tax Services LLC in Lincoln, NE. This reliable tax advisor has been serving residents and businesses throughout the state since 1989. They will carefully review your documents, income, and receipts to help you get the highest refund possible. Call (402) 467-5529 to schedule an appointment, and visit the website to learn more about their services.

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