Tax planning is for everyone. Get ready today to file your 2022 federal income tax return. Planning ahead can help you file an accurate return and avoid processing delays that can slow your tax  refund.

Steps you can take now to make tax filing easier in 2023

Create or access your account information at IRS.gov/account

Use online account to securely access the latest information available about your federal tax account and see information from your most recently filed tax return.

You can:

•  View your tax owed, payments, and payment plans
• Make payments and apply for payment plans
• Access your tax records
• Sign Power of Attorney authorizations electronically from your tax professional
• Manage your communication preferences from the IRS

Gather and organize your tax records

Organized tax records make preparing a complete and accurate tax return easier. It helps you avoid errors that lead to processing delays that slow your refund and may also help you find overlooked deductions or credits.

Wait to file until you have your tax records including:

• Forms W-2 from your employer(s)
• Forms 1099 from banks, issuing agencies and other payers including unemployment compensation, dividends, pension, annuity or retirement plan distributions
• Form 1099-K, 1099-MISC, W-2 or other income statement if you worked in the gig economy
• Form 1099-INT if you were paid interest
• Other income documents and records of digital asset transactions
• Form 1095-A, Health Insurance Marketplace Statement, to reconcile advance payments or claims Premium Tax Credits for 2022 Marketplace coverage
• IRS or other agency letters
• CP01A Notice with your new Identity Protection PIN

Notify the IRS if your address changes and notify the Social Security Administration of a legal name change.

Remember, most income is taxable. This includes:

• unemployment income,
• interest received,
• income from the gig economy, and
• digital assets.

Download our free Tax Checklists:

Make sure you've withheld enough tax

Consider adjusting your withholding if you owed taxes or received a large refund when you filed. Changing your withholding can help you avoid a tax bill or let you keep more money each payday. Credit amounts may change each year, so visit IRS.gov and use the Interactive Tax Assistant to identify whether you qualify for any tax credits that may call for a withholding adjustment. Life changes – getting married or divorced, welcoming a child, or taking on a second job - may also mean changing withholding.

Use the Tax Withholding Estimator to help you determine the right amount of tax to have withheld from your paycheck. This tool on IRS.gov will help determine if you need to adjust your withholding and submit a new Form W-4 to your employer.

Consider estimated tax payments. If you receive a substantial amount of non-wage income like self-employment income, investment income, taxable Social Security benefits and in some instances, pension and annuity income you should make quarterly estimated tax payments, with the last payment for 2022 due on January 17, 2023.

Log in to your online account to make a payment online or go to IRS.gov/payments.

Get banked to speed tax refunds with direct deposit

The fastest way for you to get your tax refund is by filing electronically and choosing direct deposit. Direct deposit gives you access to your refund faster than a paper check. Get your routing and account number by signing into your online banking account or contacting your bank.

Don't have a bank account? Learn how to open an account at an FDIC-Insured bank or through the National Credit Union Locator Tool. If you are a Veteran, see the Veterans Benefits Banking Program (VBBP) for access to financial services at participating banks.

Prepaid debit cards or mobile apps may allow direct deposit of tax refunds. They must have routing and account numbers associated with them that can be entered on your tax return. Check with the mobile app provider or financial institution to confirm which numbers to use. 

Direct deposit also avoids the possibility that a refund check could be lost or stolen or returned to the IRS as undeliverable.  

2022 changes that may affect your tax refund

Changes in the number of dependents, employment or self-employment income and divorce, among other factors, may affect your tax-filing status and refund for 2023.

No additional stimulus payments.  Unlike 2020 and 2021, there were no new stimulus payments for 2022 so taxpayers should not expect to get an additional payment in their 2023 tax refund.

Some tax credits return to 2019 levels.  This means that taxpayers will likely receive a significantly smaller refund compared with the previous tax year. Changes include amounts for the Child Tax Credit (CTC), the Earned Income Tax Credit (EITC) and the Child and Dependent Care Credit will revert to pre-COVID levels.  

• Those who got $3,600 per dependent in 2021 for the CTC will, if eligible, get $2,000 for the 2022 tax year.
• For the EITC, eligible taxpayers with no children who received roughly $1,500 in 2021 will now get $500 for the 2022 tax year.
• The Child and Dependent Care Credit returns to a maximum of $2,100 in 2022 instead of $8,000 in 2021.

Visit Credits and Deductions for more details.

No above-the-line charitable deductions. During COVID, taxpayers were able to take up to a $600 charitable donation tax deduction on their tax returns. However, for tax year 2022, taxpayers who don’t itemize and who take the standard deduction, won’t be able to deduct their charitable contributions.

More people may be eligible for the Premium Tax Credit. For tax year 2022, taxpayers may qualify for temporarily expanded eligibility for the premium tax credit. Remember that simply meeting the income requirements does not mean you're eligible for the premium tax credit. You must also meet the other eligibility criteria.

Eligibility rules changed to claim a tax credit for clean vehicles. Review the changes under the Inflation Reduction Act of 2022 to qualify for a Clean Vehicle Credit.