To help taxpayers navigate the beginning of the tax filing season, the Internal Revenue Service today offered a checklist of reminders for people as they prepare to file their 2022 tax returns.
From gathering paperwork to filing a tax return, these easy steps will make tax preparation smoother in 2023:
1. Gather tax paperwork and records for accuracy to avoid missing a deduction or credit. Taxpayers should have all their important and necessary documents before preparing their return. This helps people file a complete and accurate tax return. Errors and omissions slow down tax processing, including refund times.
Some information taxpayers need before they begin includes:
- Social Security numbers for everyone listed on the tax return,
- Bank account and routing numbers,
- Various tax forms such as W-2s, 1099s, 1098s and other income documents or records of digital asset transactions,
- Form 1095-A, Health Insurance Marketplace statement,
- Any IRS letters citing an amount received for a certain tax deduction or credit.
2. Remember to report all types of income on the tax return. This is important to avoid receiving a notice or a bill from the IRS. Don’t forget to include income from:
- Goods created and sold on online platforms,
- Investment income,
- Part-time or seasonal work,
- Self-employment or other business activities,
- Services provided through mobile apps.
3. File electronically with direct deposit to avoid delays in…
