Can I Still Do My Taxes for 2022?

The Internal Revenue Service (IRS) accepts late tax returns for the 2022 tax year. Filing a past-due return is the only way to resolve your 2022 tax obligations. This allows you to either pay any outstanding balance to prevent further penalties or claim a refund you might be owed.

Consequences of Filing a Late 2022 Tax Return

The consequences of filing a 2022 tax return late depend on whether you owe the government or are due a refund. If you have a tax liability, the IRS can assess two separate penalties. The Failure to File penalty is 5% of the unpaid taxes for each month or part of a month that a return is late, capped at 25% of your outstanding tax bill. For returns filed more than 60 days late, the minimum penalty is the lesser of $435 or 100% of the tax owed.

A Failure to Pay penalty accrues at 0.5% of the unpaid taxes for each month or part of a month the tax remains unpaid, also capped at 25%. If both penalties apply in the same month, the total penalty is 5%. Interest can also be charged on underpayments and will continue to build until the tax debt is fully paid.

Conversely, if you are due a refund for 2022, there is no penalty for filing a late return. However, there is a time limit for claiming what you are owed. The law provides a three-year window from the original tax deadline to file and claim a refund. For the 2022 tax year, which had a filing deadline in April 2023, you have until the corresponding date in 2026 to submit your return. If you fail to file by this 2026 deadline, the U.S. Treasury will keep any refund you were entitled to.

Required Information and Forms for Your 2022 Return

To file your 2022 taxes, you must use the specific forms for that year, such as Form 1040, U.S. Individual Income Tax Return, and any associated schedules. These are different from the forms used for the current tax year. The IRS maintains an online repository of prior year forms and instructions, which allows you to download the correct 2022 versions.

You need to gather all your 2022 income and tax documents. This includes:

• Your Social Security number, as well as those for your spouse and any dependents
• Documents reporting income, such as Form W-2 from employers
• Various Form 1099s for other income sources like self-employment (1099-NEC), interest (1099-INT), or dividends (1099-DIV)

If you are missing any of these documents, you can obtain the information from the IRS. The agency’s “Get Transcript” tool, available on their website, allows you to access a free summary of the income information reported under your Social Security number for a specific tax year. You can create an account to view and download these transcripts immediately or request that they be sent by mail, which takes five to ten calendar days. This transcript contains the data from your W-2s and 1099s to complete your return.

How to Submit Your Completed 2022 Tax Return

Many tax software providers allow for the electronic filing of prior-year returns, so you can e-file your 2022 return. This service for past years is available throughout the year but is suspended from mid-November until late January.

Alternatively, you can file a paper return. This involves printing your completed 2022 Form 1040 and all accompanying schedules. You must physically sign and date the return in the designated space, as an unsigned return is not considered valid by the IRS and can lead to processing delays.

If you file by mail, you must send the complete return to the IRS. The correct mailing address depends on the state you live in and whether you are including a payment. The IRS provides a page on its website with a list of mailing addresses for Form 1040.

Handling Tax Payments or Refunds

If your 2022 return shows you owe taxes, you must send a payment to the IRS. One method is IRS Direct Pay, which allows you to make a payment online from a checking or savings account for free. You can also pay via debit card, credit card, or digital wallet through an IRS-approved payment processor, though these services charge a fee. If mailing your paper return, you can include a check or money order made payable to the “U.S. Treasury.”

If you are due a refund, you can choose to have it sent via direct deposit by including your account and routing numbers on Form 1040. Alternatively, the IRS will mail a paper check to the address listed on your return. The processing time for a paper-filed return is longer than for an e-filed one, taking six weeks or more.