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The IRS will accept tax returns starting next week – here are the top 5 things to remember to get your money back fast

USERS must file their taxes correctly to avoid any delays and should use online sources before contacting the IRS, officials warn.

The advice comes just days before federal tax filing season begins on January 24.

The IRS says Americans must file their taxes correctly to avoid delays.

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The IRS says Americans must file their taxes correctly to avoid delays.Credit: Getty

Americans should keep five things in mind before paying their taxes.

ELECTRONIC DOCUMENTATION FILES

Taxpayers should submit electronic documents and choose direct deposit to receive accurate tax returns.

Americans are encouraged to use e-file software to help taxpayers avoid mistakes.

The question and answer format helps taxpayers through each step of the tax return as it is being completed.

KEEP DOCUMENT HANDLING

Before filing a tax return, Americans should also make sure that payment stimulus and prior child tax credit data is correct.

Taxpayers should keep documents nearby, such as Letter 6419 that was sent to the parent who received the advance child tax credits.

From this letter, taxpayers will be able to determine if they are eligible to claim a tax return.

It shows how many child tax credits they have claimed in 2021, and how many children have paid is used to determine this number.

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The letter contains important information that can help ensure an accurate tax return.

And this month, the IRS began mailing letters to Americans who received their third stimulus payment in late January 2021.

The document, called Letter 6475, can also help taxpayers determine if they are eligible for the Recovery Reimbursement Credit.

IRS says that both letters contain important information that helps taxpayers file their taxes correctly.

If it is incomplete, the return may need further review.

CHECK ONLINE BEFORE CALLING the IRS

Americans should use online resources before calling the IRS.

Online tools are always available 24/7 and there is no waiting time when booking an appointment.

The IRS says demand for phones on the line remains high and callers may experience call delays.

Americans should visit IRS.gov. where they can check the status of their refund or get answers to tax-related questions.

STILL WAIT FOR TAX IN 2020 RETURNS?

Some Americans may still be waiting for their 2020 tax returns to be processed.

If so, taxpayers should enter $0 for last year’s Adjusted Gross Income on their 2021 tax return.

For those who used the non-filer tool when applying for the child tax credit first, they must enter $1 for AGI 2020.

Taxpayers who do not have access to their AGI can find out using their IRS online account, where it will be displayed on the Tax File tab.

Americans can also get transcripts in the mail, but it can take up to 10 days to receive them IRS.

FREE RESOURCES

There are free resources to help Americans file their taxes.

Some vendors offer free tax return products as part of a 20-year partnership with the IRS.

Free File software is available to any individual or family earning $73,000 or less in 2021.

About 36 million families will receive up to $1,800 per child on tax returns.

The temporary child tax credit program was expanded last year from $2,000 to $3,600.

Families who received upfront pocketed six monthly payments from July through December.

However, families who choose not to use the advance tax credits can receive up to $3,600 per child.

Millions of Californians line up for $1,400 more stimulus checks after $45.7 billion budget surplus

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https://www.the-sun.com/money/4509165/irs-accepting-tax-returns-next-week-things-remember/ The IRS will accept tax returns starting next week – here are the top 5 things to remember to get your money back fast

DevanCole

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