GREENSBORO, N.C. — It’s only been seven days. Your taxes are due in seven days, and by due, I mean pay up even if you can’t figure it out.
“Keep in mind that an extension is a filing extension, not a payment extension, so whatever money is owing is due,” said Liberty Tax Services’ Ryan Dodson.
Whether filing or requesting an extension, Tax Day is Monday, April 18, 2022.
If you have any questions or concerns regarding your taxes, you may not be able to get an instant response by calling the IRS.
The IRS claims it is receiving a record amount of calls about tax difficulties this tax season. Only around 20% of calls are being answered by the agency.
In the fiscal year 2022, the IRS commissioner intends to raise that percentage to around 70%.
The North Carolina Department of Revenue did not begin taking tax returns until March of this year. According to their website, most taxpayers entitled to a refund will get it by the end of April.
What if You Live in One State While Working in a Different State?
“Most taxpayers have to submit two tax forms, a resident tax return and a non-resident tax return where they earn money,” said Mark Steber, a Jackson Hewitt Services spokeswoman.
Is It Required for Everyone to File a Tax Return?
According to the IRS, you are not obligated to file your taxes if your salary is below a specific threshold.
- The minimal annual income in 2021 will be:
- $12,500 If you’re under 65, you can file as a single person.
- $25,100 If both couples are under 65 and the head of household is under 18,800, they can file jointly.
- $25,100 Widower who qualifies
You don’t have to file if your income is less than these levels, but it’s good to do so regardless.
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“You may not have a filing necessity, but you may have a filing chance to get that money,” Steber explained. “Every year, nearly a billion dollars in uncollectable tax-refundable money is foregone by 1 million people.”
If you don’t file taxes, you won’t earn the Child Tax Credit, which is worth between $3,000 and $3,500 per child.