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31 Aug 2022, 03:24 GMT+10
There are still taxpayers who have yet to file their 2021 tax returns, some of which filed for an extension. Optima Tax Relief reminds taxpayers thar even though they have until the October 17 deadline to file, filing as soon as possible is the best thing to do to avoid any issues or delays.
Some taxpayers did not file a return because they did not earn enough wages to be required to file. However, there still may be a chance of receiving a refund because of the different credits available, such as the advance Child Tax Credit and Economic Impact Payments.
In some cases, a taxpayer has not filed yet simply because they need assistance or have a more complex tax situation. They may even delay the process because they know they will owe taxes. In any case, the IRS has revamped its website to offer easy-to-use tools at any time of the day. These tools can help taxpayers find tax preparation, track their refunds, and research tax laws. In addition to these tools, there are other means of getting help. The IRS Volunteer Income Tax Assistance (VITA) program offers taxpayers face-to-face assistance with tax preparation in several locations across the country. The program offers free basic tax preparation for taxpayers who make $58,000 or less per year, as well as those with disabilities and/or non-English primary languages.
The most important thing a taxpayer can do is to file on time. Filing an accurate return on time, and paying owed taxes as quickly as possible, can really help reduce the amount of interests and penalties required. Taxpayers who earned less than $73,000 in 2021 can file themselves using IRS Free File on the IRS website. Whatever the situation, there are unlimited resources available to taxpayers who have not filed yet.
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