If you're eager to file your 2022 tax return in January or early February, the IRS has a warning: You'll need to wait for "key documents" before filing in 2023.
In a release last week, the IRS urged "early filers" to watch for Form 1099-K, which reports income for third-party payment networks such as Venmo or PayPal. "A little extra caution" could save time and effort, the agency said, because if you don't report 1099-K income, you may owe money and need to file an amended return.
"I would recommend waiting until at least the end of February or early March," said Albert Campo, a certified public accountant and president of AJC Accounting Services in Manalapan, New Jersey. His reasoning: The deadline for companies to send 1099-Ks is Jan. 31.
'Early filers' should wait to submit their tax return in 2023, the IRS warns. Here's why
- by: Kate Dore
- 12-13-2022
- Source:
CNBC
- 12/13/2022
1040 Tax Form by FabrikaPhoto is licensed under Envato Elements Envato Elements
1040 Tax Form by FabrikaPhoto is licensed under Envato Elements Envato Elements
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