For those who haven’t yet filed their taxes with the State of Michigan or the IRS, time is running out, but you can still meet the deadline.
Taxpayers who have not yet filed their state tax returns are urged to take advantage of the last weekend before the Monday, April 18 deadline to ensure accuracy, according to the Michigan Department of Treasury.
See Taxes on A-8
“This weekend is a great opportunity for taxpayers to set aside time to file their returns that haven’t already,” said state treasurer Rachael Eubanks. “With the deadline fast approaching, electronic filing is a great option for taxpayers. It’s fast, safe and secure, making it convenient and accurate to file returns.
Choosing e-deposit and direct deposit is convenient, safe, and secure, according to the Michigan Treasury. Last year, more than 4.8 million Michigan taxpayers filed electronically, or 88% of state income tax filers.
People who file electronically typically receive their refunds about two weeks after receiving confirmation that the tax return has been accepted by the state, according to the Michigan Treasury. Taxpayers can also pay their outstanding tax balance by check, money order, electronic check, debit or credit card.
Individual taxpayers who require additional time to file beyond the April 18 deadline may request an extension until October 18, 2022. Taxpayers requesting additional time to file must estimate their tax to pay and pay any taxes due before April 18, 2022, to avoid additional interest and penalties.
As for the IRS, the message to taxpayers is similar.
The IRS said taxpayers who prepare and file electronically online are likely to have fewer errors in their tax returns. E-filing options such as IRS Free File or commercial tax software do the math, flag common errors, and ask for missing information. Taxpayers with income over $73,000 and those who are comfortable completing their tax returns can choose to use the IRS’ free fillable forms.
According to the IRS, people who need to reconcile child tax credit advance payments or apply for the recapture refund credit will need additional information about 2021 payments to file an accurate tax return and avoid a delay. treatment.
These individuals must have the full amount of Child Tax Credit Advance Payments to receive the remainder of their Child Tax Credit and the IRS has declared the amount of their Third Round Economic Impact Payment to claim a salvage rebate credit.
The IRS also said taxpayers should check their account online or see Letter 6419, 2021 Total Advance Child Tax Credit Payments, and Letter 6475, 2021 Economic Impact Payment, for the total amount of their payments.
This will help taxpayers file an accurate return, according to the IRS. Married spouses who received joint payments will need to log into their online account or check their letter for their share of the total payment. If you are filing a 2021 return as a joint filing, the IRS said they should add the payments together to provide the total amount.
Finally, the IRS said taxpayers have until the April deadline to request a filing extension through Oct. 17. However, this is not an extension of the deadline for payment, and the IRS said taxpayers should estimate their tax liability and pay as much as they can by April 18 to avoid possible penalties and interest.
Regarding the refund, the IRS said taxpayers can check their refund using Where’s my refund? at IRS.gov or download the IRS2Go mobile app and get the most up-to-date information. Taxpayers can go to IRS.gov to pay their balance using IRS Direct Pay or another payment option. The IRS also offers options for taxpayers who owe taxes but cannot afford to pay.
Taxpayers with questions about their state income taxes are encouraged to use Treasury eServices. The online platform allows taxpayers to ask questions related to state income tax when it’s convenient for them and avoids long wait times for calls at this time of year. To get started with Treasury eServices, go to www.michigan.gov/incometax and click on “Access eServices”.
For more information about electronic filing in Michigan, go to www.mifastfile.org.
IRS tax help is available 24 hours a day at IRS.gov. Whether it’s filing a tax return, requesting an extension, or making a payment, the IRS website has answers to most tax questions and can help people avoid having to call the IRS.