By Madeline Garfinkle
Tax Day looks a little different in 2022. With respect to the pandemic and unprecedented events of 2021, this tax season presented changes including new tax rules, deadlines, extensions and refunds. Here’s everything you’ll want to know to minimize mistakes, maximize your refund and file your tax return successfully.
What Changes Were Made to 2022 Tax Day
In the wake of the pandemic, significant changes were made to tax legislation, such as increasing standard deductions, raising income tax brackets and reimplementing required minimum distributions. With several new regulations, like the recent IRS 1099 rule for PayPal and Venmo, it’s important to take note of what’s shifted to understand what may or may not affect your specific taxes and filing status.If you received unemployment benefits or stimulus checks in 2021, be mindful and check that you were eligible or received the appropriate amount, otherwise you might have to pay a certain amount back.
