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When can we start filing our 2022 income tax? When are tax loans available?

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When can we start filing our 2022 income tax? When are tax loans available?

A 2020 tax return cannot be e-filed until sometime in January 2023.

TurboTax will not have a 2022 refund advance loan available until January 2023.

 

You can start a 2022 tax return using the TurboTax online editions - https://turbotax.intuit.com/personal-taxes/online/

When can we start filing our 2022 income tax? When are tax loans available?

Efile is generally accepted the last week of January. 

When can we start filing our 2022 income tax? When are tax loans available?

online later in December. desktop available now. Turbotax chooses who it will make advances to. there is no way to apply. 

When can we start filing our 2022 income tax? When are tax loans available?

Refund advance loans will not be available until sometime in January.   You cannot "opt in" for those loans.  The loan has to be offered to you when you are filing your return.  And you do not receive any money until the IRS actually accepts your 2022 e-file.    We do not yet know when the IRS will start to accept e-files.  Typically it is late in January.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

When can we start filing our 2022 income tax? When are tax loans available?

Here  are my annual words of caution …patience is a virtue and don't plan on your refund being in your account on a certain date then you won't be disappointed or overdrawn.  

The IRS can take as long as they want to process the return and there is nothing you can do about it but wait patiently. They are processed individually these days so returns sent in at the same time will not necessarily process together or in the order they are received. The IRS states that 9 of 10 returns will process in 21 days or less. However considering that the IRS processes more than 140 million returns which means 14 million will be delayed for more than 21 days. There are no refund charts to refer to anymore so don't plan on your refund being in your account on any certain date then you won't be disappointed or overdrawn.  It is possible that you get a DD date posted by the IRS and then a moment before the refund is released it gets put on hold while the IRS reviews the account which can delay it for months. 

Think of the IRS process as a long pipe line. Some returns will be rejected before being allowed into the pipe and the rest will be accepted. Then once accepted into the pipeline many will process directly through without any delays and some will not.  Some returns will be siphoned off for further review of some kind. The basis of what triggers these reviews is a well guarded secret but some are just picked randomly every year. 

Some reviews are automated and some will require human attention. The processing times will vary but, due to the continued under staffing situation and budget cuts the IRS had been subject to,  they are likely to be much longer again this year.  It has been reported that some of  the delay this year is due to the new anti fraud security screenings that were implemented.

 

You can keep checking this FAQ ( update to 2022 dates happens in late December)

https://ttlc.intuit.com/community/tax-planning-and-deadlines/help/tax-year-calendar-important-dates-... 

 

AND you cannot efile anything until all the forms/schedules are ready to be efiled ... this will not happen until January at the earliest, some will not be available until as late as March.  In the REVIEW tab the program will let you know if you are good to file and if not what you are waiting for and the estimated date they will be ready. 

 

IRS forms availability table for TurboTax individual (personal) tax products

 

 

The IRS has not announced when they will begin to accept e-files for 2022 returns.  Usually it is around the end of January.   Last year we went well into February before they began to accept e-files.   The PATH act means you cannot get a refund with earned income credit or child tax credit before the end of February at the very earliest.

 

 

And based on the delays for 2021 refunds I for one do not even want to guess how long the IRS will take to process 2022 returns and send out refunds.   Expect confusion regarding the child tax credit----wait for the letter they will send you in January that tells you how much of the advance CTC you got because you need to enter that.   

WAIT until you have everything ready so that you do not rush and make mistakes.   The mistakes made with the recovery rebate credit were to blame for many delays for 2021 refunds. 

When can we start filing our 2022 income tax? When are tax loans available?

@countrybarbie020 - while it is stated above that the IRS generally begins accepting returns in late January, if you are eligible for EITC or CTC, by law they can not begin processing those until mid-February.  

 

what the heck is the rush? 

 

please read @Critter-3 's advise as many times as it takes to memorize it! it is wise and sage advice!

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