Federal Income Tax Deadlines in 2022

ADVERTISEMENT

Preparation and planning come with the start of a new year, especially when filing taxes. Knowing the federal income tax deadlines in 2022 to ensure you submit your paperwork on time. This blog post will provide helpful information about the key dates for tax season 2022, from registration deadlines through when returns need to be filed or extended, and how not meeting certain deadlines could incur penalties for late filings. Stay tuned for more details about IRS deadline rules and regulations and what these mean for taxpayers in 2022.

Tax Changes and Key Amounts for the 2022 Tax Year

As we approach the 2022 tax year, new Federal Income Tax deadlines and changes may affect your filing. It’s important to stay up-to-date with the latest Federal Income Tax updates to ensure you take advantage of all available deductions and credits. Here is a quick overview of the Federal Income Tax changes and key amounts for 2022. The Federal Income Tax filing deadline for the 2022 tax year will be April 15th, 2023. This is the same as the 2021’s deadline.

For those who are self-employed or have other sources of income, estimated taxes must also be paid throughout the year to avoid an underpayment penalty when filing. The Federal Income Tax deadlines for estimated tax payments in 2022 are April 15th, June 15th, and September 15th of that year, with the final payment being due on January 17th, 2023.

For the 2021 and 2022 tax years, the standard deduction amounts have increased to $12,550 for those filing as single or married persons filing separately, $25,100 for those filing as married persons filing jointly and qualifying widows/widowers, and $18,800 for heads of household.

What’s the Standard Deduction for 2022 vs. 2021?

 

The Federal Income Tax Deadlines in 2022 remain unchanged from the previous year. The standard deduction for the tax year 2021 is $12,550 for single taxpayers and $25,100 for married taxpayers filing jointly. For the tax year 2022, the standard deduction will be increased to $12,600 for single filers and $25,300 for married couples filing jointly.

What’s the Federal Income Tax Rate in 2022?

The Federal Income Tax Rate for single taxpayers in 2022 is 10%, 12%, 22%, 24%, 32%, 35%, and 37%. The Federal Income Tax Rates for married couples filing jointly remain unchanged at 10%, 12%, 22%, 24, 32%, 35%, and 37%. The Federal Income Tax Rate for married filing separately is 10%, 12%, 22%, 24%, 32%, 35%, and 37%.

April 15th - the deadline for filing your federal income tax return

April 15th is the deadline for filing your Federal Income Tax return. Whether you file electronically, by mail, or through a professional tax preparer, make sure to submit your return on time to avoid any late fees or penalties.

It’s also important to remember that estimates of how much income and other financial information you need to report may not be accurate. So, it’s best to consult an expert to ensure that you report the correct information and any potential deductions or credits that may be available.

June 15th - Federal Tax Payments Due Date

June 15th is the Federal Tax Payment due date for those who requested an extension on filing their Federal Income Tax return. Those who requested an extension must make payment of taxes due by the June 15th deadline.

Payment options vary but generally include direct debit from a checking or savings account, personal check, money order, credit card, or electronic Federal Tax Payment System (EFTPS).

October 15th - Federal Income Tax Return Extension Deadline

 

October 15th is the Federal Income Tax Return extension deadline. If you requested an extension to file your Federal Income Tax return, now is the time to submit your forms and paperwork. Remember that Federal income taxes are due by April 15th, so any extensions granted must be filed by October 15th, or penalties and interest will accrue.

It’s important to stay on top of Federal Income Tax deadlines to avoid any potential issues or fees. Understanding the Federal Income Tax Deadlines for 2022 and planning can ensure a smoother filing season. If you need additional help, contact your tax professional for guidance and assistance. Doing so will help protect you from any potential penalties or fees.

What If You Miss a Deadline?

If you missed a Federal Income Tax Deadline in 2022, the IRS could assess penalties and interest on unpaid taxes. Generally speaking, failure-to-file penalties are more than failure-to-pay penalties, so it’s important to file your return by the due date, even if you cannot pay your taxes in full. Also, interest accumulates on any unpaid tax from the due date of the return until it is paid in full.

In some cases, you may be able to request a penalty abatement or partial payment installment agreement if you cannot pay all taxes owed. It’s important to contact the IRS as soon as possible if you think you will not be able to meet Federal Income Tax Deadlines in 2022. The IRS has various programs and payment plans you may qualify for, so don’t hesitate to reach out.

How To File Your Tax Return Electronically

Filing your Federal Income Tax return electronically is a fast, efficient way to submit your taxes and get the best refund possible. The IRS encourages taxpayers to e-file because it reduces errors and helps them process refunds quickly. Here’s what you need to know about Federal Income Tax Deadlines in 2022 so that you can file your taxes electronically and stay on the right track.

The Federal Income Tax deadline for individuals filing a 1040 form will be April 15th, 2022. However, if you are self-employed or need more time to complete your taxes, you may qualify for an extension until October 17th, 2022. To get an extension, you must file Form 4868, Application for Automatic Extension of Time to File U.S. Individual Income Tax Return, by the regular tax filing deadline (April 15th).

What If You Can’t Pay Your Taxes?

The Federal income tax filing deadlines in 2022 are fast approaching. If you think you may have difficulty paying the taxes you owe, a few options are available to help relieve some of the burdens. The most important thing to remember is not to panic – if you can’t pay your tax bill by the due date, the IRS offers a few options to help you.

You can request an extension of time to file, which gives you until October 15th to get your paperwork in order – this does not extend the due date for payment. If you’re unable to pay the full amount by April 15th, you may be able to apply for an installment agreement or a temporary delay of payment.

You can also apply for an offer in compromise, which allows you to settle your debt for less than the full amount owed if you meet certain criteria. Additionally, suppose your financial situation changes substantially due to job loss, medical expenses, or natural disasters. In that case, the IRS may grant penalties reduction, which could reduce or remove the penalty fees associated with late payments.

FAQs

How do Federal Income Tax Deadlines work in 2022?

In the United States, Federal income tax deadlines are enacted by the Internal Revenue Service (IRS). Generally, Federal income taxes must be paid in full by April 15thth of each year. In 2021, the Federal income tax filing deadline was extended to May 17th due to the COVID-19 pandemic.

Is there an extension for Federal Income Tax Deadlines in 2022?

Yes, the IRS has granted a Federal income tax filing and payment deadline extension until May 17th, 2022. This deadline applies to individual taxpayers who choose to file their 2021 Federal income tax returns before April 15thth, 2022.

Are there any other Federal Income Tax deadlines I should know about in 2022?

Yes, Federal income tax payments must be made by January 17th, 2022, for taxpayers who choose not to file their Federal income tax returns before April 15thth, 2022. Additionally, Federal estimated tax payments for the 2021 tax year are due on April 15th and June 15th of 2021.

Are any Federal Income Tax deadlines different in 2022?

Yes, Federal quarterly estimated tax payments are due on April 15th and June 15th of 2021 rather than the traditional April 1st and June 15th. This change was due to the COVID-19 pandemic.

What happens if I miss a Federal Income Tax deadline in 2022?

Penalties and interest may be assessed if Federal income tax returns or payments are not filed by the due date. Taxpayers should contact the IRS as soon as possible to discuss their options if a Federal tax deadline has been missed. Taxpayers can also file for an extension of time to file Federal income taxes. Extensions do not extend the time to pay Federal income taxes.

Conclusion

I hope this guide has helped you understood Federal Income Tax Deadlines in 2022. It is important to remember that the IRS sets deadlines every year, so be sure to check with them periodically for any updates or changes. Additionally, if you are unsure of how certain events may affect your Federal Income Tax Deadlines in 2022, consider consulting a tax professional to ensure your taxes are filed accurately and on time. Federal Income Tax Deadlines in 2022 may seem confusing, but with the right preparation, you can make sure all of your Federal Income Tax deadlines are met.

ADVERTISEMENT