When did you file your taxes?issuing time: 2022-04-10
- Did you include all relevant information on your tax return?
- Have you received any other government benefits or refunds since filing your taxes?
- How many dependents do you have?
- What is your filing status? (Single, Married Filing Jointly, etc.)?
- Did you check the box indicating that you have a child under the age of 17?
- What is your Adjusted Gross Income (AGI)?
Assuming you are a U.S. taxpayer, you generally must file your federal income tax return by April 15 of each year. However, if you are a U.S. citizen or resident alien living outside the United States on that date, you may have until June 15 to file your return and pay any tax due without penalties.
Did you include all relevant information on your tax return?
When filing your taxes, it’s important to include all relevant information. This includes your income, deductions, and credits. Leaving anything out could result in you paying more taxes than you owe, or receiving a smaller refund than you’re entitled to.
If you’re not sure what information to include on your tax return, the IRS has a helpful checklist that can guide you. You can also find many helpful resources online or from tax professionals. By taking the time to make sure you have everything included on your return, you can help ensure that you get the most accurate tax refund possible.
Have you received any other government benefits or refunds since filing your taxes?
If you have received any other government benefits or refunds since filing your taxes, you may be required to repay some of those funds. Check with the agency that issued the benefits or refund to see if repayment is required.
How many dependents do you have?
The number of dependents you have may affect the amount of money you can receive from certain benefits programs. For example, if you are receiving Social Security benefits, each dependent you have may entitle you to an additional $300 per month. If you are a veteran, the number of dependents you have may affect how much money you receive from your disability benefits.
What is your filing status? (Single, Married Filing Jointly, etc.)?
Your filing status is used to determine which tax bracket you are in and how much tax you owe. There are five main categories: single, married filing jointly, head of household, married filing separately, and qualifying widow(er).
If you are unmarried or considered unmarried by the IRS (this includes same-sex marriages that aren’t recognized by the federal government), then your only option is to file as single. If you are married and both you and your spouse agree to file together, then you can do so either as “married filing jointly” or “married filing separately.” Filing jointly usually provides more tax breaks than filing separately, but there may be instances where it makes more sense to file separately. For example, if one spouse has a lot of medical expenses or owes back taxes, it might be better for them to file separately.
Head of household is a category for those who are not married but have dependent children living with them. To qualify as head of household, you must provide more than half of the financial support for a dependent child or other family member during the year. This status usually provides greater tax benefits than single filers receive.
The last category is qualifying widow(er) with dependent child. This status applies to taxpayers whose spouses died within the past two years and who have at least one dependent child living with them.
Did you check the box indicating that you have a child under the age of 17?
If you checked the box indicating that you have a child under the age of 17, here are a few things to keep in mind:
- You will need to provide proof of your child's age. This can be in the form of a birth certificate, passport, or other official document.
- If you are traveling with your child, you will need to provide proof of their relationship to you. This can be in the form of a birth certificate, adoption papers, or other official document.
- You will need to have a valid form of ID for yourself and your child. A passport is typically required for international travel. For domestic travel, a driver's license or government-issued ID should suffice.
- If you are traveling alone with your child, it is advisable to have some sort of documentation from the other parent authorizing you to do so. This could be in the form of a notarized letter or court order.
What is your Adjusted Gross Income (AGI)?
Your adjusted gross income—often referred to as AGI—is your total taxable income for the year minus any adjustments. The IRS uses your AGI to determine which tax bracket you fall into and how much taxes you owe.
To calculate your AGI, start with your total income from all sources for the year. This includes wages, salaries, tips, interest, dividends, capital gains, pensions, rents, alimony, and other forms of income. Once you have your total income figure, subtract any adjustments—also known as above-the-line deductions—that you’re eligible for. These include things like student loan interest paid, IRA contributions, and self-employment tax paid. The resulting number is your adjusted gross income.
For example: Let’s say that your total income for the year is $50,000. You would then subtract any eligible adjustments (say $5,000), which leaves you with an AGI of $45,000.