Don’t miss out on extra cash: It’s officially tax filing season
MYRTLE BEACH, S.C. (WMBF) - Get ready to have some extra cash in your pocket because it’s officially tax filing season.
While none of us look forward to filing our taxes, filing a complete and accurate tax return will help avoid any delays.
Samantha Slapnik, Owner of Liberty Tax Services in Carolina Forest, said you can expect smooth sailing and a quick return if you take the time to get organized first.
“Taxpayers need to make sure that they are not filing without all of their information. The IRS is really cracking down on income verification. Even if you leave off one small W-2 form it can hold up your refund for months,” said Slapnik.
You’ll want to gather things like your 2022 tax records, social security number and W-2 forms.
Also take a close look at any tuition payments, retirement savings contributions and more to make sure you do not overlook important tax credits.
Slapnik also said a common mistake she sees is filing under the incorrect status. For example, if you filed single despite being married.
You should also take note of any major changes you’ve made over the last year.
“What additional dependents might you have; Did you have another job? Did you have unemployment? Did you buy a rental property? Depending on those changes it will change your tax return dramatically, so consult with your tax professional to make sure you’ve got everything,” said Slapnik.
Refunds are typically processed in less than three weeks, but if you want to see that money hit your bank account even faster, file your taxes electronically and choose direct deposit.
Employers have until the end of January 2023 to send out W-2s.
You have until Tuesday, April 18, 2023, to file your taxes or request an extension.
For more information click here.
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