• Home
  • Table of Contents
  • Tax Tips
  • Credits
  • Deductions
  • Refunds
  • State Taxes
  • Politics/Laws
  • Tax Terms
  • Archives

Don't Mess With Taxes

Translating taxes into money-saving English

Home Table of Contents Tax Tips Credits Deductions Refunds State Taxes Politics/Laws Tax Terms Archives

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)

*****

Clover patch

*****

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

 

 

Advertisements

 

 

 

 

Today's Tax Tip

  • IRS paying billions in late refund interest — If you're waiting for your IRS refund, there's not much that can help ease your frustration. But if Uncle Sam takes more than 45 days, you could at least get a bit of interest added to your delayed tax cash. So far, the agency has paid $3.3 billion in such interest amounts. And the amount could grow, since on July 1 the quarterly adjustment to the interest rate goes up a percentage point. (May 20, 2022)

  • Tax Tip; click pencil for all tax tip links

  • The 2022 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!

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-… 2022
    You can find medical coronavirus resource links further down this column.

All About Kay

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

My Other Accounts

Advertisements

  • *************

Tick ... Tick ... Tick

  • Tax Season 2022 continues!

    Tax Day 2022 is finally over … unless you're one of the millions who have more time to file — looking at you taxpayers abroad and those in major disaster areas — or you got an extension to file your 2021 tax year return. That's fine. In fact, the Internal Revenue Service appreciates some of us spreading out our filings, especially when we and the agency still are dealing with all the complications of COVID-19 and taxes.

    That's why the ol' blog's focus now is on all y'all still working on returns. But I haven't forgotten my organized taxpayer readers, who are already looking for ways to reduce their 2022 tax year bills. Yep, that amount is adding up, but there are moves you can make. The monthly tips and reminders a little further down this column can help everyone, regardless of which tax year you're working on.

    Those on extension should keep a keen eye on the countdown clock below. It will help you track the days tick, tick, ticking off toward that absolutely final fall filing due date of Oct. 17. Yep, it's a few days later this year.
    Note: I'm in the Central Time Zone, so adjust accordingly for where you live.


Time for Tax Tasks


  • monthly tax moves


  • May has arrived!
    That exclamation mark is sincere and deserved. You've got to love a month that starts with a celebration.

    May Pole Dance via GIPHY


    After the May Day dances are done, the commemorative days just keep coming. There are well-known ones, like Cinco de Mayo, Mother's Day, and Memorial Day, as well as some more obscure ones, like Visit Your Relatives Day, National Smile Day, and my favorite, Eat What You Want Day.

    But even with all these (and more!) celebrations, there's still time to make some money-saving May tax moves. Let's get to it!

    May 1: While May Day isn't a big holiday in the United States, globally the first day of May is a time for celebrating workers' contributions. But that can apply here, too, in connection with some employment-related tax tasks. If you got a big refund or owed more tax than you expected when you filed (or got an extension) last month, today's the perfect time to do paycheck check-up to determine how you should adjust your withholding.

    May 5: ¡Feliz Cinco de Mayo!

    Feliz Cinco de Mayo

    Fiestas are back this year, as more of us have been taken advantage of COVID-19 vaccinations and boosters. Still, be careful out there celebrating this Mexican holiday (and no, it's NOT Mexican Independence Day) that tends to spur more festivities here north of the border. Party responsibly, both when it come to the lingering pandemic and imbibing your favorite adult beverage, likely a margarita, which included the cost of state and federal alcohol taxes. Your state tax collector also will raise a glass to your fiscal contribution, since during the pandemic, sin taxes were a revenue bright spot for many states.

    May 8: Happy Mother's Day!

    Happy Mother's Day

    If you're just this year making up for pandemic paused family visits, give your mom a longer hug on her special day. Love, flowers, and the best of health and happiness to every mother, from the new ones just discovering the joys, tax and otherwise, of new parenthood to those gracefully maneuvering their Golden Years while getting some tax-advantaged help from their families.

    May 10: Eateries are still recovering from the challenges of operating during a national health crisis. Restaurants closed, then opened, then closed again. Others relied on and have stuck with take-out and deliveries. Whether you're dining in or still getting food brought to your house, remember to tip your server or delivery person.

    restaurant check tip iStock
    If a tip isn't included in your food delivery charge, click the image above to calculate how much to tip the person who brought it to you.

    As for servers who now are back on the job, remember that your tips are taxable income. If you worked at least some of March at a job where you got gratuities, you need to account for them today if they came to at least $20 last month. Use Form 4070 to report your tips today to your employer.

    May 16: Before the seasonal shift into summer, take care of spring tax cleaning. Give away clothing and household goods you no longer use. Your philanthropy could provide you a charitable tax deduction.

    May 23: Kick spring cleaning up a notch. Go beyond housekeeping and house clearing and make those home repairs you've been putting off. Many home improvements, including landscaping, could pay off in by increasing your home's basis, which means your profit for tax purposes will be smaller and stay under the amount that's tax-free when you eventually sell your home.

    May 27: If you're heading out early for the long Memorial Day weekend that traditionally kicks off summer, be sure to plan for added costs, like the price of getting to your holiday destination. Most of us will hit the highways, so even though gasoline prices have come down a bit, they still will take a bite of our travel budgets. Sorry, it's not enough to get Congress to create a federal gas tax holiday. And if you're renting your home to incoming tourists, be sure to pay the state and/or local taxes added to short-term home rentals.

    May 30: As you honor military personnel this Memorial Day who made the ultimate sacrifice, don't forget about their families. There are some tax considerations offered survivors of lost soldiers, sailors, and air crew.

    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 Talking Tax Forms page.

What are you looking for?

  • Looking for something in particular? Start with the Table of Contents.
    Or check out the Archives, where you can review posts by month and category. Or enter specific keywords in the box below to search
    Don't Mess With Taxes.

Search

Subscribe:
E-mail, RSS or both!

  • Enter your Email


    Powered by FeedBlitz
  • RSS

Privacy Policy

  • Wondering what happens to your information once you subscribe? Don't worry. Don't Mess With Taxes respects your wish not to be a mere data source. Check the ol' blog's privacy policy at the Table of Contents page, as well as on the separate Privacy Policy page.

Sponsored Products

Affiliate Books

  • The Truth
    About Paying Fewer Taxes
  • Are you a tax geek? Got tax geek friends? Do you or they just want to make sure you don't overpay the IRS? Then my book, "The Truth About Paying Fewer Taxes," is for all y'all.

    Look for it on bookstore shelves
    or order a copy (or two!) from
    Amazon or Barnes & Noble.

  • TruthAboutTaxes
  • Find out more about my book and excerpted chapters at the FT Press
    Truth About Paying
    Fewer Taxes
    Web page
    .

  • You can read more
    of Kay's tax insights in ...


  • Kay Bell helps you build
    a solid tax foundation in
    "Personal Finance: An Encyclopedia
    of Modern Money Management"




    Kay Bell breaks down taxes and
    estate planning for millennials in
    "Future Millionaires' Guidebook"



    A collection of Kay Bell stories
    is included in
    "The Gambler's Guide to Taxes:
    How to Keep More
    of What You Win"




  • Tax Reading Room

    You also might enjoy these other tax tips from some of my tax-writing colleagues:




  • Don't Mess With Taxes
    is an Amazon Affiliate.
    If you click on the product links above and/or buy the items,
    I will be compensated.

0, 1, 2, 3, 4, 5, 6, 7, 8, 9 ...

  • Numbers
    Taxes are all about the numbers.
    Check out these (mostly) weekly
    By the Numbers figures.

Kudos Et Cetera

  • Association for Women Clarion Award Winner
    National Association
    for Women in Communications

    Winner, Best Personal Blog
    2012, 2014 & 2017

  • Plutus Award Winner
    Plutus Financial Bloggers Awards
    Celebrating the Best
    in Personal Finance

    Winner, Best Tax Blog
    2011 and 2013
    Lifetime Achievement Nominee 2020


I gotta tell ya ...

  • AKA Disclaimer:
    I am a professional journalist who has been covering tax issues since 1999.
    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.

©©©©© & ®®®®®

  • Don't Mess With Taxes®
    is a registered trademark
    of S. Kay Bell.

    All content on this site is
    © 2005-2022 S. Kay Bell
    dba Write Here, a division of
    SKB Editorial Services, LLC

  • And a bit of housekeeping.
  • Note 1: Some of the links on this site
    are affiliate links. That means that
    if you click through from
    a Don't Mess With Taxes link
    and then buy the product,
    I receive a commission.

    Note 2: Links to outside content
    might become inactive due to changes
    at the copy's originating website.
    If you discover dead links, please e-mail me the details. Thanks.

    Note 3: The banner art for the ol' blog
    is courtesy Pictures of Money
    via Flickr Creative Commons.
Blog powered by Typepad
Member since 11/2005

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:
    CDC Vaccines
    CDC Booster Shots
    HHS Combat COVID
    USA.Gov COVID Info

May 2022

Sun Mon Tue Wed Thu Fri Sat
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31        

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.

..................................................



  • .................................................................
  • Don't Mess With Taxes •
  • Powered by Typepad
Top