The IRS is starting to accept e-file tax returns on January 24, 2023. EFC can still prepare your tax returns before this date if you have all your documents.
When filers have all their tax documentation gathered and organized, they are in the best position to file an accurate return and avoid processing or refund delays or receiving IRS letters. Now’s a good time for taxpayers to consider financial transactions that occurred in 2022, if they are taxable and how they should be reported.
The IRS encourages taxpayers to develop an electronic or paper recordkeeping system to store tax-related information in one place for easy access. Taxpayers should keep copies of filed tax returns and their supporting documents for at least three years.
Before January, taxpayers should confirm that their employer, prior employers, bank, and other payers have their current mailing address and email address to ensure they receive their year-end financial statements. Typically, year-end forms start arriving by mail or are available online in mid-to-late January. Taxpayers should carefully review each income statement for accuracy and contact the issuer to correct information that needs to be updated.
