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March 2022 Tax Tips

The lion's share of tax filing season returns. 

Tax tip pencilMarch traditionally is the heart of filing season. This third month of the year is the last full one before Tax Day.

That wasn't the case for the last two filing seasons. The COVID-19 pandemic disrupted our real and tax lives, pushing the return deadline into later in the year.

In 2022, however, the Internal Revenue Service, is determined to get back on schedule. Although the federal tax agency still is digging out of a massive, mostly coronavirus created backlog, it is determined that we get our returns to it in April. At least we get a few extra days, until April 18, thanks to the regular 4/15 date falling this year on Emancipation Day.

Since we are again facing the middish-April tax return due date, March is decision time. In keeping with the month's proverbial in like a lion, out like a lamb appellation, we must choose which of those disparate creatures is our tax spirit animal.

If you're a tax lion, aggressively hunting down tax breaks, then you'll find some in the March tax tips below. They should help you go full beast mode on your Form 1040 this month.

If, however, you're a tax lamb, you might be too timid right now to take care of your taxes. If that's ewe — sorry, I couldn't resist — bookmark this page, and the January and February ones before it. Then you can come back here, and the earlier tips pages, when you are ready to meet your filing responsibility.

That bookmarking tip also works if you already know you're going to get an extension and worry about filing — but not paying; you'll send any tax you've estimated you'll owe when you file Form 4868 to get until Oct. 17 (the 15th is on Saturday).

Ditto about the bookmarking if you've already filed, and now are working on cutting your 2022 taxes. Some of the tips will cover this year's tax planning, too. In these cases, you definitely can take more of a lamb approach in March, calmly exploring ways to make next year's filing season even easier and less costly.

Regardless of whether you're a tax lion or lamb, the pieces of tax advice in March, as with those before, will be highlighted in the upper right corner of the ol' blog. After their time in the spotlight, the March tips then will be permanently ensconced on this page.

Since I know you're raring and roaring to get at 'em, here they are!

  1. 5 tax-cutting March tax moves — We're heading into the heart of tax filing season. Here are five moves you might be able to make this March that could help reduce your 2021 tax bill. (March 1, 2022)
  2. 12 common filing mistakes to avoid — To err is human. To err when doing your taxes also is all too common. And continuing COVID-created tax law changes offer new challenges and ways to screw up your tax return. Here are a dozen tax errors to watch out for and avoid. (March 4, 2022)
  3. Don't overlook these 13 tax breaks — Are you still searching for tax write-offs? Here are 13 tax deductions and credits, including some that don't require itemizing, that too many taxpayers overlook every filing season. Missing them could be costly. (March 8, 2021)
  4. IRS' second TAC Walk-in Saturday is March 12 — If you need to talk with an IRS rep in person about a tax matter, some of the agency's Taxpayers Assistance Centers will be open Saturday, March 12. This is second of four planned special TAC Saturdays. Find the one near you and just walk in, no appointment required. (March 10, 2022)
  5. Tips for tax filing newbies — Are your filing your first-ever tax return this year? Welcome to the 150-million-plus taxpaying club. These 8 tips for tax newbies could help make your initiation a bit easier. (March 13, 2022)
  6. Ways to spend your FSA — Medical flexible spending accounts (FSAs) are a great, tax beneficial way to cover uninsured health care costs. But if you don't spend all your FSA funds, you lose the money. Here are some ways to use FSA money if you must do so by the March 15 grace period deadline or, thanks to COVID-prompted changes, later this year if your company allows. (March 14, 2022)
  7. Going green at home can save tax green — Looking for a different way to celebrate green and save on your taxes this St. Patrick's Day? Be sure to claim on your 2021 tax return any residential energy tax credits that apply to certain home energy improvements you made last year. (March 17, 2022)
  8. VITA and TCE sites offer free tax help — If you want more than tax software, but can't afford to hire a tax professional, check out Volunteer Income Tax Assistance (VITA) or Tax Counseling for the Elderly (TCE). These IRS-sanctioned, volunteer-staffed programs can help eligible taxpayers prepare and e-file their returns for free. (March 18, 2022)
  9. Open a bank account to get tax refund faster — The Internal Revenue Service prefers directly depositing taxpayer refunds. It's faster and safer. If you don't have a bank account, but want one where the IRS can electronically remit your refund — and any future tax-related payments, like the COVID-19 economic impact payments — check out the options available for the unbanked. (March 22, 2022)
  10. Tracking down your tax refund — Most taxpayers, as soon as they file their annual returns, they ask the same question: When will I get my tax refund? You can track its progress to your back account using the Internal Revenue Service's online Where's My Refund? tool. (March 25, 2022)
  11. Time running out to claim 2018 tax year refunds — If you didn't file a tax year 2018 return three years ago and missed out on a refund back then, you've got until this approaching April 18 Tax Day to get that old paperwork to the Internal Revenue Service. If you miss the deadline, Uncle Sam gets to keep your money. Also, check out how much unclaimed, potentially forfeited refund money is available in your state. (March 26, 2022)
  12. April 1 is RMD deadline for some — If you turned 72 in the last half of last year and postponed your first required minimum distribution, known as an RMD, from affected retirement accounts, your deadline is this Friday, April 1. No fooling. (March 29, 2022)

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Clover patch

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Looking for some more tax tips? Then click on the links below to see what was featured that month. One warning, though, in the months yet to come, which right now is April through December, you won't find any tips.

Instead, you'll be greeted by an animated nay-saying fellow making good use of one of my favorite Texas sayings. Tax info will replace that fun and folksy GIF as the months arrive.

January July
February August
March September
April October
May November
June December

 

 

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Today's Tax Tip

  • IRS TACs holding special Saturday hours for walk-ins — To help taxpayers who can't make a weekday appointment at an Internal Revenue Service Taxpayer Assistance Center (TAC), the tax agency will open some of them across the country on four upcoming Saturdays nationwide. The first Saturday TAC sessions will be this weekend, Feb. 11. The other special openings will be on March 11, April 8, and May 13. Best of all, no appointments needed at any of the TAC Saturdays. (Feb. 8, 2023)

  • Tax Tip; click pencil for all tax tip links

  • The 2023 Tax Tips offer ways to file your annual return, along with post-filing advice, important tax news and, of course, ways to cut your current tax year bill. You'll find the monthly assemblages on their own respective pages: January, February, March, April, May, June, July, August, September, October, November and December. Remember, tax tasks and tips don't stop after you file your annual return!

All About Kay

  • OK, some about Kay
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    Kay Bell — Native Texan
    (the blog title totally makes sense now, right?). Professional journalist. Tax geek.

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Tick ... Tick ... Tick

  • Tax Year 2023 Countdown!

    Happy New Tax Year! Are you ready to file your 2022 tax return? Me neither. But at least this year we're getting some extra time to file and pay any tax we owe. Even better, it's not COVID-19 pandemic related. Tax Day 2023 is Tuesday, April 18. This later date is because April 15, 2023, is on Saturday, and the next business day, Monday, April 17, is Emancipation Day.
    When this Washington, D.C., holiday falls on the day our federal taxes are due, it bumps Tax Day nationwide to the next business day. So this year, we have until Tuesday, April 18, to finish our federal forms and, if we find we owe, come up with the money for Uncle Sam. The states that follow the federal tax calendar, which is most of them, also tend to abide by this date change.

    The countdown clock below should help us from missing out on making important tax-saving moves the rest of this year. Plus, the Tax Moves below the counter will list some timely tasks to take care this first month of 2023, and each of the remaining 11 when they arrive. They'll speed by quickly when you're having tax fun!
    Note: I'm in the Central Time Zone, so adjust accordingly for where you live.


Time for Tax Tasks


  • monthly tax moves


  • Hello February, and ❤ to our new 2023 Valentine, the Internal Revenue Service. OK, maybe love for the IRS is a little much, but we at least want to make nice with Uncle Sam's tax collector this month as it goes into the first full, albeit short, month of the tax season. That means some taxpayers will be getting their refunds in February!

    via GIPHY

    With just 28 days, it will mean some full days for both IRS employees, some of whom are still trying to catch up on that lingering COVID-19 pandemic backlog, and all of us who'll file this month. So let's not waste anymore time, and get to some tax tasks for this shortest month of the year!

    Feb. 1: Employers and other third-party payers were to have issued us our W-2 and associated 1099 forms by Jan. 31. If you're still waiting, be patient and give them a tad more time. And don't forget to check your email, as many issuers sent out electronic notices of the online availability forms and other statements you need to file your taxes instead of relying on the U.S. Postal Service.

    Feb. 2: Happy Groundhog Day!

    Fat Groundhog; click image for Groundhog Day details

    The main reason to wait for the correct tax statements is to avoid getting caught in a Bill Murray kind of tax loop, where you have to file an amended tax return because you entered wrong info on your original 1040.

    Feb. 7: Black History Month is celebrated every day this month, commemorating the achievements by black Americans and recognizing the role of African Americans in U.S. history.

    The National Association for the Advancement of Colored People (NAACP), the nation's oldest and largest grassroots-based civil rights organization, was founded on this month, specifically on Feb. 12, 1909, the centennial anniversary of the birth of Abraham Lincoln, who issued the Emancipation Proclamation twice.

    One of the NAACP's key divisions is its Legal Defense and Educational Fund.
    If you want to support the Fund's work, during Black History Month or any day of the year, you can donate to it and, since it is a 501(c)(3) organization, claim your gift as a charitable tax deduction if you itemize. Sorry, filling out Schedule A is your only option this filing season, since Congress didn't renew the option to claim cash gifts of up to $300 for single filers or $600 for married filing jointly couples directly on Form 1040.

    Feb. 10: Do you work as a server at a restaurant or at any other establishment where gratuities from customers are part of your compensation? I hope you got lots of financial thanks for doing your job well, but remember that those tips are taxable income.

    restaurant check tip iStock
    Whether you're dining in or, still COVID leery and getting food delivered to your home, if a tip isn't included on your restaurant or delivery bill, click the image above to calculate how much to tip the person who brought it to you.

    If you got at least $20 in gratuities in January, you must account for the tips today by using Form 4070 to report last month's tips total to your employer.

    Feb. 12: Are your ready Chiefs, Eagles, and special television commercial fans? It's finally Super Bowl Sunday! Not only will today's 57th Super Bowl decide American professional football's champion, it's also the biggest single betting day of the year. The NFL, like the other professional U.S. sports leagues, have embraced betting. Just remember, if any of your wagers pay off, you owe tax on your winnings. Note, too, that even if your winnings are part of a fantasy sports bet, the associated taxes are very real.

    Feb. 14: Happy Valentine's Day! Do you and your better half file a joint return? Most married couples do. Remember to look over the 1040 carefully before you sign it. When both spouses sign their jointly filed 1040, each is jointly and severally liable for the entire tax amount due. I don't want to spoil your Heart Day celebration, but this means the IRS can come after either spouse for payment of a tax bill, even the husband or wife who is in more dire financial circumstances.

    Feb. 15: Today is the day that the Internal Revenue Service finally can issue refunds to filers who claimed the Earned Income Tax Credit (EITC) or additional Child Tax Credit. But don't spend the money just yet. Even if you're getting your tax refund directly deposited, the IRS' general processing time plus protocols of financial institutions receiving the refunds you’re your tax cash probably won't actually show up in your account until the end of this month.

    Feb. 20: Today is one of the reasons for tax refund delays. It's the Washington Birthday federal holiday, officially honoring George Washington, the Father of Our Country. Over the years, however, this federal (three-day, yay!) holiday has come to commemorate the contributions of all our Commanders in Chief, and is popularly known as Presidents' Day. That means we've got to give another shout out to Abraham Lincoln, who essentially was father of our income tax system, signing into law a tax on earnings to help pay Civil War costs.

    Feb. 24: You're ready to work on your tax return, but you're on a budget. No worries. The IRS and its Free File Alliance partners again offer no-cost online tax preparation and electronic filing to eligible taxpayers at the IRS' special Free File web page. This year, seven tax software companies are participating.

    IRS Free File; click image for details

    The Free File income threshold this year remains at adjusted gross income (AGI) of $73,000 or less, regardless of your filing status.

    Feb. 28: Wow! February really did speed by, especially since we were having so much tax fun. Or maybe you weren't having any fun at all trying to do your taxes yourself, even with software's prompts, and have decided to turn to professional tax help. That's a smart move, and here are some tips on how to find the perfect tax professional for your filing and planning needs. Note, though, that at this point in the filing season, you're likely to be placed at the end of that tax pro's very long client queue, as reputable tax preparers' calendars fill up fast. So again, be patient. You're at least now in tax filing line.

    Small Business Tax Calendar: Important filing, deposit and record keeping dates throughout the year that your company needs to know. You can get more tax calendar information at the IRS' online calendar page and view the full year's important business and individual tax dates in IRS Pub. 509.

State Tax Help

  • Don't forget your state taxes!
    Forty-three states and D.C. collect personal income taxes. But even if you live in of the seven states without an income levy, you still face other state (and local) taxes.

    State Tax Departments provides links to your state's Web page. The companion page, Tax Tidbits, is the compilation of blurbs about each state's tax laws. And for more state tax news, check out all our state tax bloggings.

Tax Forms

  • Tax Forms
    Thanks to our increased use of tax preparers and computer software, many of us don't see our tax forms until we sign and file them. But knowing what's on these documents, either in paper or digital form, and why the IRS wants it is key to understanding our tax system. And knowledge definitely is power, especially when it comes to tax savings. Find this valuable information in the ol' blog's special Tax Forms 2023 page.

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    I am not a professional tax preparer.
    The content on Don't Mess With Taxes is my personal opinion based on my study and understanding of tax laws, policies and regulations. It is provided for your private, noncommercial, educational and informational purposes only. It is not a recommendation of any specific tax action(s) you should or should not take. Similarly, mentions of products or services are not endorsements. In other words, my ramblings on the ol' blog are free advice and you know what they say about getting what you pay for. That's why when it comes to filing your taxes, I urge you to get additional, professional, paid-for guidance from an accountant, Enrolled Agent or other qualified tax preparer who is familiar with your individual tax circumstances.

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COVID-19 & Taxes

  • COVID-19
    Coronavirus has wreaked havoc
    on the 2020 and 2021 tax seasons.
    These three Coronavirus (COVID-19) and Taxes pages have details:
    March-July 2020,
    August-December 2020,
    January-December 2021, and
    January-December 2022
    You can find medical coronavirus resource links in the next section.

COVID-19 Resources

  • COVID-19
    Need help finding a coronavirus vaccine in the United States?
    Call 1-800-232-0233
    or TTY 1-888-720-7489.
    More information and resources at:
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    HHS Combat COVID
    USA.Gov COVID Info

February 2023

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Tell it to the Hill

  • DMWT Politics Posts
  • While it's easy to rail at the IRS, for the most part we can thank — or blame — our tax laws on Congress and the White House. So if you have an issue with tax legislation or want a tax bill passed, you need to let your federal legislators and the White House occupant know of your concerns. You can find out who in Washington, D.C., to contact (and how), as well as get information on your local lawmakers for matters, tax or otherwise, closer to home, at USA Gov.

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