Can I Still File 2022 Taxes? Yes, and Here’s How

It is possible to file a tax return for the 2022 tax year. The process involves specific forms and procedures for prior-year returns, and understanding the financial consequences of filing after the original deadline is an important part of the process.

Financial Implications of Filing Late

The financial repercussions of filing a 2022 tax return late depend on whether you are owed a refund or have a balance due to the Internal Revenue Service (IRS). If you are due a refund, there is no penalty for filing after the deadline. You have three years from the original tax deadline to file and claim your 2022 refund, which sets the cutoff at approximately April 2026. If you do not file by that date, the U.S. Treasury will keep the money permanently.

Conversely, if you owe taxes, the situation involves penalties and interest. The IRS imposes a Failure to File penalty for not filing on time and a separate Failure to Pay penalty for not paying the tax you owe by the deadline.

The Failure to File penalty is 5% of the unpaid taxes for each month or part of a month that a tax return is late, but it does not exceed 25% of your unpaid taxes. The Failure to Pay penalty is 0.5% of the unpaid taxes for each month or part of a month the taxes remain unpaid, also capped at 25% of the unpaid tax amount.

If both penalties are applied in the same month, the total penalty is 5%, consisting of a 4.5% late filing charge and a 0.5% late payment charge. In addition to these penalties, interest will accrue on the underpayment, compounding daily from the original due date of the return until the balance is paid in full.

Required Information and Tax Forms for 2022

To complete your 2022 tax return, you will need income documents such as Form W-2 from employers and any Form 1099s, which report other income from sources like self-employment (1099-NEC), interest (1099-INT), and dividends (1099-DIV). You will also need the Social Security numbers for yourself, your spouse, and any dependents you plan to claim.

For a 2022 return, you must use the 2022 version of Form 1040, U.S. Individual Income Tax Return, and its associated schedules. These prior-year forms are not available through current-year tax software but can be found in the “Forms, Instructions & Publications” section of the IRS website. You can search for “Form 1040” and select the 2022 version to download and print.

The information from your collected documents corresponds to specific lines on the 2022 Form 1040. For example, wages from your Form W-2 and interest income from Form 1099-INT are reported on specific lines. Having your bank account and routing numbers on hand is also useful if you are due a refund and wish to receive it via direct deposit.

How to Submit a Late 2022 Tax Return

For a prior-year return like the one for 2022, the primary method of filing is by mail. Electronic filing, or e-filing, through consumer tax preparation software is generally not available for returns from previous years, as the IRS systems are updated for the current tax season.

To file by mail, you must send your completed and signed 2022 Form 1040 and all related schedules to the correct IRS service center. The specific mailing address depends on the state you live in and whether you are including a payment with your return. The IRS provides a list of filing addresses in the instructions for the 2022 Form 1040. It is advisable to use certified mail to have a record of when you sent the return.

While standard e-filing is closed for 2022 returns, some tax professionals and authorized e-file providers may have the software to electronically file prior-year returns. This option often comes with a fee but can provide a faster and more secure submission. After submitting your paper return, expect longer processing times compared to e-filed returns, typically six weeks or more.

Considerations for State Taxes

You may also have a separate obligation to file a state income tax return for 2022. Each state that has an income tax has its own set of rules, forms, and deadlines for filing. The procedures and penalties for late filing and payment at the state level can differ from federal regulations. You must consult your specific state’s department of revenue or taxation website for the correct 2022 state tax forms and to understand the potential consequences of filing late.