April 14, 2022
Source: National Disability Institute (NDI)
The Federal tax deadline is approaching!
This year’s deadline to file your Federal taxes (without extension) is Monday, April 18, 2022.*
If you have not yet filed your taxes, the resources in this newsletter can help you prepare your taxes, learn about tax credits that can help you save money, and explore free tax filing services.
* Note: Monday, April 18 (not the usual April 15 date, due to Emancipation Day holiday in Washington, D.C.) is the last day of the filing season (without an extension), with the exception of taxpayers in Massachusetts and Maine, where the deadline is Tuesday, April 19 due to the Patriots Day holiday in those states.
Why do I need to file my taxes?
Filing your federal taxes, even if you have not filed in the past or are not required to do so, may allow you to get back money you did not know you were eligible to receive. You may receive a refund from money withheld from your paycheck, or you may be eligible for certain tax credits like the Earned Income Tax Credit (EITC), Child Tax Credit, Child and Dependent Care Credit or the Saver’s Tax Credit.
Fifty percent of the Child Tax Credit was paid in advance in 2021 to eligible families, unless they opted out of the payments. In order to receive the remaining Child Tax Credit amount (if you are eligible), you must file a 2021 tax return.
If you were eligible for a Recovery Rebate Credit and either didn’t receive your Economic Impact Payments (stimulus payments), or received less than the full amounts, then you must file a tax return(s) to claim the credit even if you don’t usually file.
Where can I file my taxes?
There are multiple ways for you to file your taxes at no cost to you and your family if you meet eligibility requirements. Free filing services are generally available to low- to moderate-income (LMI) people with disabilities, the elderly and limited English speakers. However, eligibility requirements vary, so please confirm prior to preparing and filing your taxes. Keep in mind you don’t have to be an expert to do your own taxes and you don’t have to do it alone. There are many free tax preparation options to help you get your refund and all the credits you’ve earned. Learn more about free fax filing options.
Please note that because of the pandemic, many Volunteer Income Tax Assistance (VITA) programs are still offering a variety of tax preparation options in 2022, including virtual tax preparation, drop-off services and facilitated self-preparation. You can see if there is a VITA program near you and call to confirm services prior to visiting any locations listed.
How can I get my tax refund faster?
Direct deposit is the safest and fastest way to receive a tax refund. Electronic filing, including Free File, is the best way to avoid pandemic-related paper delays. E-filing, combined with direct deposit, is the fastest way to get a refund.
What documents do I need to file my taxes?
Gather your tax records, including your tax records from last year (both Federal and state if applicable), any letters received from the IRS such as Letter 6475 and/or Letter 6419, as well as all important documents related to your taxes. View a list of important tax documents to prepare.
Plan ahead with your tax refund…
The money you get from your tax refund could help cover necessities like food, bills, rent or mortgage payments. You may also be able to use your tax refund to open a tax-advantaged ABLE savings account, if you are eligible. Learn more about ABLE accounts and eligibility by visiting our ABLE National Resource Center.
You can also use your tax refund to start an emergency fund to kickstart your savings and begin building your financial resiliency. The Financial Resilience Center has partnered with AFCPE and LifeCents to provide you with free tools that can help you understand and improve your financial situation. AFCPE financial counselors can help you build a plan to help you pay off debt and create strategies to save money.
Find answers to additional frequently asked questions about taxes and tax preparation
The Financial Resilience Center was developed by National Disability Institute with generous funding from the Wells Fargo Foundation.