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1.            Get your documents ready. Gather all your tax forms like W-2s and 1099s, receipts, and correct social security numbers for dependents all in one place.


2.            Did you receive the third stimulus payment or the advanced Child Tax Credit? The IRS sent letter 6475 which reports the amount of the third stimulus you may have received and letter 6419 which reports the amount of advanced Child Tax Credit you received. Gather letters 6419 and 6475 so the correct amount is reported. Incorrect amounts can delay the processing of your return and refund.


3.            File for valuable credits. If you don’t usually file a return, didn’t file a 2020 return, or use the IRS Non-filer tool, the IRS encourages you to still file your 2021 tax return so you don’t miss out on valuable tax credits like the Earned Income Tax Credit worth up to $6,728 for a family with three kids, the Child Tax Credit, and the Recovery Rebate Credit, which can give you a refund.

How we can help

If you need help to file your return timely and accurately, contact us today. TaxAssist offers an expert professional advisory service. Inquire online here to book your free, no obligation consultation.

Date published Apr 14, 2022 | Last updated Jul 22, 2022

This article is intended to inform rather than advise and is based on legislation and practice at the time. Taxpayer’s circumstances do vary and if you feel that the information provided is beneficial it is important that you contact us before implementation. If you take, or do not take action as a result of reading this article, before receiving our written endorsement, we will accept no responsibility for any financial loss incurred.

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