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Tax Law Changes for 2022

There are changes coming in the year 2022 for some tax provisions that are affected by inflation adjustments, including Health Savings Accounts, retirement contribution limits, and the foreign earned income exclusion. Also for 2022 the tax-bracket thresholds increase for each filing status. Standard deductions also rise, while personal exemptions have been eliminated through tax year 2025.

While this list outlines important tax changes for 2022, additional changes in tax law are likely to arise during the year ahead. Don’t hesitate to call us at POS Taxes if you have any questions, our friendly team is standing by to help you.

 
  • Child Tax Credit
  • Child and Dependent Care Credit
  • Premium Tax Credit
  • Earned Income Credit
  • New Standard Deduction Amounts
  • $300 Charitable Contribution
  • Alternative Minimum Tax (AMT)
  • “Kiddie Tax”
  • Health Savings Accounts (HSAs)
  • Medical Savings Accounts (MSAs)
  • AGI Limit for Deductible Medical Expenses
  • Eligible Long-Term Care Premiums
  • Medicare Taxes
  • Foreign Earned Income Exclusion
  • Long-Term Capital Gains and Dividends
  • Estate and Gift Taxes
  • Adoption Credit
  • Earned Income Tax Credit
  • American Opportunity Tax Credit and Lifetime Learning Credit
  • Interest on Educational Loans
  • Retirement Contribution Limits
  • Retirement Income Phase-out Ranges
  • Retirement Saver’s Credit
  • Standard Mileage Rates
  • Section 179 Expensing
  • Bonus Depreciation
  • Qualified Business Income Deduction
  • Research & Development Tax Credit
  • Work Opportunity Tax Credit (WOTC)
  • Employee Health Insurance Expenses
  • Business Meals and Entertainment Expenses
  • Employer-provided Transportation Fringe Benefits

Important Tax Dates 2022

2022 Filing Dates

 

  • Jan. 10, 2022: Deadline for employees who earned more than $20 in tip income in December to report this income to their employers on Form 4070.
  • Jan. 15, 2022: Deadline to pay the fourth-quarter estimated tax payment for tax year 2021.
  • Jan. 31, 2022: Your employer has until Jan. 31 to send you your W-2 form reporting your 2021 earnings. Most 1099 forms must be sent to independent contractors by this date as well.
  • Feb. 10, 2022: Deadline for employees who earned more than $20 in tip income in January to report this income to their employers. You can use Form 1070 to do so.2
  • Feb. 15, 2022: Deadline for financial institutions to mail out Form 1099-B relating to sales of stock, bonds, or mutual funds through a brokerage account, Form 1099-S relating to real estate transactions; and Form 1099-MISC, unless the sender is reporting payments in boxes 8 or 10.3
  • Feb. 28, 2022: Deadline for businesses to mail Forms 1099 and 1096 to the IRS.
  • March 1, 2022: Deadline for farmers and fishermen to file individual income tax returns unless they paid 2021 estimated tax by Jan. 18, 2022.
  • March 10, 2022: Deadline for employees who earned more than $20 in tip income in February to report this income to their employers.
  • March 15, 2022: Deadline for corporate tax returns (Forms 1120, 1120-A, and 1120-S) for tax year 2021, or to request an automatic six-month extension of time to file (Form 7004) for corporations that use the calendar year as their tax year, and for filing partnership tax returns (Form 1065) or to request an automatic six-month extension of time to file (Form 7004).
  • March 31, 2022: Deadline for businesses to e-file Forms 1099 and 1098 to the IRS, except Form 1099-NEC.
  • April 11, 2022: Deadline for employees who earned more than $20 in tip income in March to report this income to their employers.1
  • April 18, 2022: Deadline for household employers who paid $2,300 or more in wages in 2021 to file Schedule H for Form 1040.4
  • April 18, 2022: All individuals must file their 2021 personal tax returns, or Form 1040 or Form 1040-SE by his date. This is also the deadline to request an automatic extension (Form 4868) for an extra six months to file your return, and for payment of any tax due.
  • May 10, 2022: Deadline for employees who earned more than $20 in tip income in April to report this income to their employers.
  • June 10, 2022: Deadline for employees who earned more than $20 in tip income in May to report this income to their employers.
  • June 15, 2022: Deadline for second-quarter estimated tax payments for the 2021 tax year.
  • June 15, 2022: Deadline for U.S. citizens living abroad to file individual tax returns or file Form 4868 for an automatic four-month extension.
  • July 11, 2022: Deadline for employees who earned more than $20 in tip income in June to report this income to their employers.
  • August 10, 2022: Deadline for employees who earned more than $20 in tip income in July to report this income to their employers.
  • Sept. 12, 2022: Deadline for employees who earned more than $20 in tip income in August to report this income to their employers.
  • Sept. 15, 2022: Deadline for third-quarter estimated tax payments for the 2021 tax year.
  • Sept. 15, 2022: Final deadline to file partnership and S-corporation tax returns for tax year 2021, if an extension was requested (Forms 1065 and 1120-S).
  • Oct. 11, 2022: Deadline for employees who earned more than $20 in tip income in September to report this income to their employers.
  • Oct. 17, 2022: Final extended deadline (if previously requested) to file individual and corporate tax returns for the year 2021 using Form 1040 and Form 1120.5
  • Oct. 17, 2022: Deadline for eligible taxpayers who earned $72,000 or less in adjusted gross income (AGI) for tax year 2021 to use Free File to prepare and file their returns.6
  • Nov. 10, 2022: Deadline for employees who earned more than $20 in tip income in October to report this income to their employers.
  • Dec. 10, 2022: Deadline for employees who earned more than $20 in tip income in November to report this income to their employers

2022 Federal Legal Holidays

  • Saturday, January 1 – New Year’s Day
  • Monday, January 17 – MLK Jr.’s Birthday
  • Monday, February 14 – President’s Day
  • Monday, May 30 – Memorial Day
  • Monday, July 4 – Independence Day
  • Monday, September 5 – Labor Day
  • Monday, October 10 – Columbus Day
  • Thursday, November 10 – Veterans’ Day
  • Thursday, November 24 – Thanksgiving Day
  • Saturday, December 24 – Christmas Eve
  • Sunday, December 25 – Christmas Day
  • Sunday, January 1 – New Year’s Day

2022 Tax Refund Calendar

Now, when to expect my tax refund!

Date Accepted

Direct Deposit Sent

Paper Check Mailed

Feb 12 – Feb 13, 2022

Feb 26, 2022

Mar 5, 2022

Feb 14 – Feb 20, 2022

Mar 5, 2022

Mar 12, 2022

Feb 21 – Feb 27, 2022

Mar 12, 2022

Mar 19, 2022

Feb 28 – Mar 6, 2022

Mar 19, 2022

Mar 26, 2022

Mar 7 – Mar 13, 2022

Mar 26, 2022

Apr 2, 2022

Mar 14 – Mar 20, 2022

Apr 2, 2022

Apr 9, 2022

Mar 21 – Mar 27, 2022

Apr 9, 2022

Apr 16, 2022

Mar 28 – Apr 3, 2022

Apr 16, 2022

April 23, 2022

Apr 4 – Apr 10, 2022

Apr 23, 2022

Apr 30, 2022

Apr 11 – Apr 17, 2022

Apr 30, 2022

May 7, 2022

Apr 18 – Apr 24, 2022

May 7, 2022

May 14, 2022

Apr 25 – May 1, 2022

May 14, 2022

May 21, 2022

May 2 – May 8, 2022

May 21, 2022

May 28, 2022

May 9 – May 15, 2022

May 28, 2022

Jun 4, 2022

May 16 – May 22, 2022

Jun 4, 2022

Jun 11, 2022

May 23 – May 29, 2022

Jun 11, 2022

Jun 18, 2022

May 30 – Jun 5, 2022

Jun 18, 2022

Jun 25, 2022

Jun 6 – Jun 12, 2022

Jun 25, 2022

Jul 2, 2022

Jun 13 – Jun 19, 2022

Jul 2, 2022

Jul 9, 2022

Jun 20 – Jun 26, 2022

Jul 9, 2022

Jul 16, 2022

Jun 27 – Jul 3, 2022

Jul 16, 2022

Jul 23, 2022

Jul 4 – Jul 10, 2022

Jul 23, 2022

Jul 30, 2022

Jul 11 – Jul 17, 2022

Jul 30, 2022

Aug 6, 2022

Jul 18 – Jul 24, 2022

Aug 6, 2022

Aug 13, 2022

Jul 25 – Jul 31, 2022

Aug 13, 2022

Aug 20, 2022