For 2022, the IRS (Internal Revenue Service) started accepting completed tax returns for the 2021 year on January 24, 2022. While the IRS is still trying to complete the backlog of returns from 2020, there is something to the old adage that the person who files first gets their money first.

So, what will you need to do your taxes? To e-File them? Will you need anything costly?

Photo by Kelly Sikkema on Unsplash
Photo by Kelly Sikkema on Unsplash
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No, the items that you will need to complete your tax returns, should not have you quaking like you are a kid about to take their College Boards. In fact, you will more than likely already be pretty familiar with the required items.

  • You will need your driver's license or state-issued ID, know your Social Security number, have a valid email address.
  • You will need your papers or source documents. This is all your w-2's, your 1099's, any of the papers that say you have a credit coming.

This seems too easy, what else will I need?

Photo by Kelly Sikkema on Unsplash
Photo by Kelly Sikkema on Unsplash
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  • Did you get another one of those supplement checks for $1400 in 2021? Then your tax professional needs to know that. They will also need to know if you received or were supposed to receive advanced earned income child credit.
  • Remember to be truthful, round up to whole numbers when possible.

Ok, I have everything collected, can I start doing my taxes now?

Photo by Leon Dewiwje on Unsplash
Photo by Leon Dewiwje on Unsplash
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  • Relax, you can fill everything out, and provided that you are not in trouble with the IRS or you don't have too difficult a return and are expecting a refund, then according to the site that tracks the IRS, you can expect that refund in about 3 weeks.
  • Speaking of a refund, you will need the routing number and the account number of where you want your refund to go.

Depending on the type and depth of the return you complete, you will need additional information not listed here. Your best to cover all of your bases is to discuss this with a tax professional.

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