GREENSBORO, N.C. — Tax season is officially underway!
This year's season is starting 17 days earlier than last year, but Ryan Dodson with Liberty Tax said you want to file as soon as you can.
"When folks have all their information, they're ready to file, it's now time to send it all in," Dodson said.
First, you need to get all your information together.
Those documents include:
- W-2s
- advanced child tax credit letter 6912
- 1099-G, if you filed for unemployment at any time
- charitable donations statements
Dodson said it's important to know that all of your unemployment is taxable this year.
"Regardless of however much you received and if you received a dollar or whether you received $10,000, all of it is subject to income tax," Dodson said.
Dodson also said if you had a baby in 2021, you get the entire child tax credit amount for children under five years old, which is $3,600.
He recommends everyone file early and electronically.
"We're all in the same boat. We'll get there. I encourage everyone to file tax returns as soon as they have their information. Get in there, get it done, so you're going to know you're going to be first in line to get your refund, or you know that you have a while to save up some money and make that payment on April 18 this year," Dodson said.
The deadline to file your taxes or request an extension will be Monday, April 18.
The extension deadline is Oct. 17.
The IRS said most people who do get a refund within 21 days. On Feb. 15, the IRS will begin to process refunds.