Preparing for tax season
RICHMOND, Va. (WWBT) - The 2022 tax season is right around the corner and filing opens on Monday. Here are some tips on how you can get ready, and make filing easier.
At the start of a year, you want to pull up and organize all your tax documents. Most of the documents you need will start arriving in the mail soon.
Michael Joyce with the financial firm Agili says to put them in a place that’s easy to get to, and you’ll need them before you know it.
By the end of January, you should get your W2′s from your current or former employers over the last year.
In February you should get your 1099s from investment accounts.
“You do want to organize your documents. That will make it easier for you to prepare your tax returns. Whether you do it by paper or use tax software or you use a tax preparer to do it,” said Joyce.
If you made any charitable donations at the end of the year-- save those receipts as well and put them in the pile.
Other tips from experts are to file your taxes as soon as you can, once you have all your documents.
It’s to prevent hackers from filing a fake return in your name and getting a refund. That act could hold up the money you deserve back.
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