Here are some steps that you can take now to make filing your taxes in 2022 less stressful.
- Create a file of tax forms as you receive them, such as W-2 Wage and Tax Statements, Forms 1099 for Misc. Income and Form 1099-G for unemployment compensation.
- If you received Economic Impact Payments or Advance Child Tax Credit payments, add the accompanying notices to your file.
- Also add documentation for deductible expenses incurred during the year.
- If you’ve moved, avoid delays by ensuring the IRS has your new contact information.
- If you received Economic Impact Payments (EIPs) or advance Child Tax Credit (CTC) payments in 2021, expect to hear from the IRS in January. Letters will be mailed, listing the total EIPs or CTC payments you received. Keep the letters with your tax records. Depending on your eligibility, you may be able to claim an additional EIP, called a Recovery Rebate Credit, on your 2021 tax return (even if you don’t usually file). If you received advance CTC payments, compare the amount received with the total you qualify to claim. If you were overpaid or underpaid, you may have to repay the excess on your return or claim a credit for the difference.
To set up an in-person or virtual appointment with one of our tax preparers, call 315.424.1120 or email [email protected].
ABOUT GROSSMAN ST. AMOUR CPAs PLLC
Grossman St. Amour CPAs PLLC is located in Syracuse, New York and has been in business for sixty-four years. The accounting firm provides businesses and individuals with accounting, audit, taxation, business planning and valuation, financial planning, investment consulting, and fraud examination and deterrence services. For more information about how Grossman St. Amour CPAs PLLC can be of service to you, contact [email protected], call 315.424.1120 or, contact one of our professionals.