Last week the IRS announced that they would begin accepting and processing 2021 tax year returns on Monday, January 24, 2022.
In the announcement, the IRS encouraged tax filers “to have all the information they need in hand to make sure they file a complete and accurate return.”
They went on to say, “Having an accurate tax return can avoid processing delays, refund delays and later IRS notices. This is especially important for people who received advance Child Tax Credit payments or Economic Impact Payments (American Rescue Plan stimulus payments) in 2021; they will need the amounts of these payments when preparing their tax return. The IRS is mailing special letters to recipients, and they can also check amounts received on IRS.gov."
NOTE: The Protecting Americans from Tax Hikes Act of 2015 (or the PATH Act) “mandates that the IRS not issue a refund on tax returns claiming the Earned Income Tax Credit or Additional Child Tax Credit until Feb. 15. The additional time helps the IRS stop fraudulent refunds from being issued to identity thieves and fraudulent claims with fabricated wages and withholdings.”