The U.S. Internal Revenue Service (IRS) recently announced that the “tax season” for individual taxpayers will start January 24, 2022, at which time the IRS will begin accepting and processing individual income tax returns for 2021.1

As the usual filing deadline of April 15 falls on the Emancipation Day holiday in the District of Columbia, the filing deadline to submit 2021 tax returns is Monday, April 18, 2022, for most taxpayers (holidays in Washington, D.C., affect tax deadlines for taxpayers in the same way that federal holidays do).  However, taxpayers who live in Maine or Massachusetts will have an extra day, until April 19, 2022, to file their returns because of the Patriots' Day holiday in those states.

Taxpayers who request an extension by the original filing deadline will have until Monday, October 17, 2022, to file their returns.

WHY THIS MATTERS

The January 24 start date for individual tax return filers allows the IRS time to perform programming and testing that is critical to helping ensure IRS systems run smoothly.  Updated programming helps ensure that eligible people can claim the proper amount of the Child Tax Credit after comparing their 2021 advance credits and claim any remaining stimulus money as a Recovery Rebate Credit when they file their 2021 tax returns.

In addition to announcing the start date of the “tax season,” the announcement states that the IRS anticipates most taxpayers will receive their refunds within 21 days of when they file electronically if they choose direct deposit and there are no issues with their tax returns.  This is welcome news to taxpayers, as challenges caused by the COVID-19 pandemic resulted in significant refund processing delays during last year’s filing season.  However, by law, the IRS cannot issue a refund involving the Earned Income Tax Credit or Additional Child Tax Credit before mid-February, though eligible taxpayers may file their returns beginning on January 24.  The law provides this additional time to help the IRS stop fraudulent refunds from being issued. 

FOOTNOTE

1  Announced in IR-2022-08 (January 10, 2022).

The above information is not intended to be "written advice concerning one or more Federal tax matters" subject to the requirements of section 10.37(a)(2) of Treasury Department Circular 230 as the content of this document is issued for general informational purposes only.

 

The information contained in this newsletter was submitted by the KPMG International member firm in United States.

Connect with us

Stay up to date with what matters to you

Gain access to personalized content based on your interests by signing up today

VIEW ALL

GMS Flash Alert is a Global Mobility Services publication of the KPMG LLP Washington National Tax practice. The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.

© 2024 KPMG LLP, a Delaware limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved.


For more detail about the structure of the KPMG global organization please visit https://kpmg.com/governance.