It’s official: Tax season begins Jan. 23 for individual applicants, the IRS announced Thursday.
For most taxpayers, you must file your tax return by April 18 of this year and pay your balance to avoid penalties and interest.
“This filing season is the first to benefit the IRS and our country’s tax system from multi-year funding under the Inflation Reduction Act,” said Acting IRS Commissioner Doug O’Donnell. “With these new additional resources, taxpayers and tax professionals will see improvements in many areas of the agency this year.”
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While the IRS typically issues tax refunds in less than 21 days, the agency has warned taxpayers not to rely on receiving their 2022 federal refund by a specific date.
The agency says some returns may require “additional verification” and take longer to process if the IRS systems find an error, missing information, or the agency suspects identity theft or fraud.
If you claim the earned income tax credit — a tax break for low- to middle-income workers — or an additional child tax credit, the IRS won’t be able to issue your refund until mid-February, according to the agency.
As of December 23, the agency still had 1.91 million unprocessed individual returns in 2022, including returns for 2021 or late-filed returns from previous years. About 1.49 million of those returns require “error correction” or “other special handling,” according to the IRS, and 414,000 are paper returns.
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