2022 Income Taxes and Medicare Enrollment Dates to Remember
The coming of a new year always brings important deadlines to remember. We are going to focus on two that are time sensitive and review some free online resources available to assist in the process.
January 2022 Income Tax Due Date is April 18
Federal income tax returns are due April 18 for most taxpayers. But some people have a little extra time – are you one of them?
Exceptions to the Tax Due Dates
Most Americans must file their federal tax returns for the 2021 tax year by April 18, 2022, but there are two exceptions:
- taxpayers in two states have until April 19 to submit their 1040s to the IRS.
- victims of certain natural disaster also get more time to file, with varying dates depending on when the disaster hit.
In any case, if for some reason you can’t file your federal tax return on time, it’s relatively easy to get an automatic six-month extension to October 17, 2022, by filing Form 4868 or making an electronic tax payment. But you must act by the original due date for your return, whether that’s April 18, April 19, or some other date.
Keep in mind, however, that an extension to file doesn’t extend the time to pay your tax. If you don’t pay up by the original due date, you’ll owe interest on the unpaid tax. You could also be hit with additional penalties for filing and paying late.
Why Are Taxes Due April 18 Instead of April 15 This Year?
As most people know, Tax Day is usually on April 15, unless it falls on a weekend or holiday, in which case it’s pushed back to the next available business day. April 15 is on a Friday this year, so the weekend rule doesn’t apply. However, Emancipation Day is being observed in the District of Columbia on April 15. The holiday honors the end of slavery in Washington, D.C. Since April 15 is a legal holiday in D.C., the IRS can’t require tax returns be filed that day. The next business day is April 18 – so that becomes Tax Day in 2022 for most people.
Tax Filing Deadline for Maine and Massachusetts Residents
Residents of Maine and Massachusetts get an extra day – until April 19 – to file their federal income tax return. Why? Because Patriots’ Day, an official holiday in Maine and Massachusetts that commemorates Revolutionary War battles, falls on April 18 this year. So, for the same reason Tax Day is moved from April 15 to April 18 for most people (i.e., a local holiday), the IRS can’t set the tax filing and payment due date on April 18 for taxpayers in those two states. As a result, the deadline is shifted to the next business day for Maine and Massachusetts residents, which is April 19.
Natural Disaster Victims Get Tax Filing and Payment Extensions
If the Federal Emergency Management Agency (FEMA) declares a disaster area following a natural disaster, the IRS usually jumps in with tax relief for the disaster victims in the form of tax filing and payment extensions. In the case of certain recent natural disasters, the April 18 (or April 19) tax filing and payment deadline has been extended for individuals and businesses residing or located in the disaster area.
So far, victims of the following natural disasters have been granted extensions that push back this year’s federal personal income tax filing and payment deadline:
- Severe storms and tornadoes in Arkansas, Illinois, Kentucky and Tennessee that began on December 10 (extension to May 16); and
- Wildfires and straight-line winds in Colorado that began on December 30 (extension to May 16).
Need Help Preparing Your Taxes
The IRS’s Volunteer Income Tax Assistance (VITA) and Tax Counseling for the Elderly (TCE) programs offer free basic tax return preparation to qualified individuals.
The VITA program has operated for over 50 years. VITA sites offer free tax help to people who need assistance in preparing their own tax returns, including:
- People who generally make $57,000 or less
- Persons with disabilities; and
- Limited English-speaking taxpayers
Interested in this program go to https://www.irs.gov/individuals/free-tax-return-preparation-for-qualifying-taxpayers
General Medicare Enrollment period is January 1 to March 31 2022
You can receive free, unbiased Medicare counseling in your area through the Statewide Health Insurance Benefits Advisors (SHIBA), and State Health Insurance Program (SHIP) programs.
SHIBA and SHIP are local and statewide network of trained volunteers who educate and advocate for people of all ages who have Medicare.
Their volunteer counselors can help you understand your rights and Medicare insurance choices. They do not sell anything. SHIP is federally funded by the U.S. Administration for Community Living, and SHIBA, is part of the Washington State Office of the Insurance Commissioner, both of their volunteers and services are unbiased.
For counseling and more information got to SHIP https://www.shiphelp.org or SHIBA https://www.insurance.wa.gov/get-free-unbiased-medicare-counseling-your-area
We at Mission Possible are here to assist in every way that we can, please do not hesitate to contact us if you have questions 888-359-2366.
`Till Next Time,
~Tina
Resource link used for this blog https://www.kiplinger.com/taxes/tax-deadline/604063/tax-day-2022
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