The time of year many dread is here... tax season
A new year is here and new taxes are hitting North Carolina residents. The IRS is beginning to accept tax returns today.
GREENVILLE, N.C. (WITN) - It almost feels a little too soon but it’s time for tax season and this year’s tax season will look different.
Liberty Tax Manager, Carol Haddock says, “This year, the Child Tax Credit has gone back to what it was before at up to $2,000 per child, partially refundable and partially nonrefundable and the Child for Dependent Care Credit is now nonrefundable again whereas last year, the child dependent care was fully refundable and so was the Child Tax Credit.”
For taxpayer Joshua Burney, being organized is how he stays prepared. “Just make sure your paperwork is in order. I think as long as your paperwork is in order, as long as you are staying on top of it and I don’t think there’s anything wrong with constantly looking at that stuff or having someone in your corner who can look at that stuff for you and help you be prepared.”
Haddock reminds people to be proactive and ready. “It’s best to have all your tax documents by the time you come in. If you have insurance through the marketplace which is basically like Obama Care insurance, you’ve got to have that 10-95A or else they will reject that return without it so it’s best to have everything you need at one time that way you don’t have to keep coming back,” Haddock says.
There are many ways to begin filing.
“The one way the IRS does not like is paper filing because it just takes so long but some people like to come into the office, some people like to file virtual returns so whichever way is easiest for them,” Haddock told WITN.
The IRS will begin accepting returns on January 23rd and January 31st is the deadline for employers to give out W-2s’. Tax Day is Tuesday, April 18th.
When filing your taxes, make sure to have your I.D., Social Security card, birth dates of your spouse and dependents, your banking and routing numbers, along with your 2020 and 2021 tax returns and identity protection pin if you have one.
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