The IRS recently outlined important steps taxpayers can take now to prepare for the upcoming tax season, summarized below. Tax planning is for everyone. Planning ahead can help you file an accurate return and avoid processing delays that can slow your tax refund.

Steps you can take NOW to make filing easier this tax season:

1. View your account information online via the IRS website

Use online account to securely access the latest information available about your federal tax account and see information from your most recently filed tax return on IRS.gov. You can:

• View the amounts of the Economic Impact Payments you received
• Access CTC UP for information about advance Child Tax Credit payments
• Access your tax records via Get Transcript
• Make a payment or set up a payment agreement online
• Approve or reject authorization requests from your tax professional
• Update your email address and opt-out/in for selected paper notice preferences

If you have questions about how to create an account or how to reset your username or password, see How to Register for Certain Online Self-Help Tools.

Act now if you need to create an account. If you are unable to verify your identity online, there is a mail option you can use but that takes longer.

2. Gather & organize your tax records

Organized tax records make preparing a complete and accurate tax return easier. It helps you avoid errors that lead to processing delays that slow your refund and may also help you find overlooked deductions or credits. Wait to file until you have your tax records including:

• Forms W-2 from your employer(s)
• Forms 1099 from banks, issuing agencies and other payers including unemployment compensation, dividends, distributions from a pension, annuity or retirement plan
• Form 1099-K, 1099-MISC, W-2 or other income statement if you worked in the  gig economy
• Form 1099-INT if you were paid interest
• Other income documents and records of virtual currency transactions
• Form 1095-A, Health Insurance Marketplace Statement, to reconcile advance Premium Tax Credits for Marketplace coverage
• Letter 6419, 2021 Total Advance Child Tax Credit Payments to reconcile your advance Child Tax Credit payments
• Letter 6475, Your 2021 Economic Impact Payment, to determine whether you’re eligible to claim the Recovery Rebate Credit

Notify the IRS if your address changes and notify the Social Security Administration of a legal name change.

Remember, most income is taxable. This includes:

• unemployment income,
• refund interest,
• income from the gig economy, and
• virtual currencies.

3. Check your Individual Tax Identification Number (ITIN)

An ITIN only needs to be renewed if it has expired and is needed on a U.S. federal tax return.

If your ITIN wasn’t included on a U.S. federal tax return at least once for tax years 2018, 2019, and 2020, your ITIN will expire on December 31, 2021.

As a reminder, ITINs with middle digits 70, 71, 72, 73, 74, 75, 76, 77, 78, 79, 80, 81, 82, 83, 84, 85, 86, 87, or 88 have expired. In addition, ITINs with middle digits 90, 91, 92, 94, 95, 96, 97, 98, or 99, IF assigned before 2013, have expired. If you previously submitted a renewal application and it was approved, you do not need to renew again.

4. Make sure you’ve withheld enough tax

Consider adjusting your withholding if you owed taxes or received a large refund last year. Changing your withholding can help you avoid a tax bill or let you keep more money each payday. Life changes – getting married or divorced, welcoming a child, or taking on a second job – may also mean changing withholding.

Use the Tax Withholding Estimator to help you determine the right amount of tax to have withheld from your paycheck. This tool on IRS.gov will help determine if you need to adjust your withholding and submit a new Form W-4 to your employer.

Consider estimated tax payments. If you receive a substantial amount of non-wage income like self-employment income, investment income, taxable Social Security benefits and in some instances, pension and annuity income you should make quarterly estimated tax payments, with the last payment for 2021 due on January 18, 2022.

Log in to your online account to make a payment online or go to IRS.gov/payments.

What’s new and what to consider when you file in 2022:

1. Reconcile advance Child Tax Credit payments

If you received advance payments, when you file your 2021 tax return, you will need to compare the advance Child Tax Credit payments that you received during 2021 with the amount of the Child Tax Credit that you can properly claim on your 2021 tax return. The fastest way for you to get your tax refund that will include your Child Tax Credit is by filing electronically and choosing direct deposit.

If you received less than the amount that you’re eligible for, you’ll claim a credit for the remaining amount of Child Tax Credit on your 2021 tax return. If you received more than the amount that you’re eligible for, you may need to repay some or all of that excess payment when you file.

In January 2022, the IRS will send you Letter 6419 to provide the total amount of advance Child Tax Credit payments that you received in 2021. You need to keep this and any other IRS letters you received about advance CTC payments you received with your tax records and refer to them when you file.

See Reconciling Your Advance Child Tax Credit Payments on Your 2021 Tax Return for more information.

2. Claim Recovery Rebate Credit

Individuals who didn’t qualify for third Economic Impact Payments or did not receive the full amount may be eligible for the Recovery Rebate Credit based on their 2021 tax situation. The fastest way for you to get your tax refund that will include your Recovery Rebate Credit is by filing electronically and choosing direct deposit.

If you received the full amount for your third Economic Impact Payment, you won’t include any information about it when you file your 2021 tax return.

If you’re eligible, you’ll need to file a 2021 tax return even if you don’t usually file to claim the Recovery Rebate Credit and you didn’t get the full amount of the third Economic Impact Payment.

File an accurate return to avoid processing delays that slow your refund. You will need the amount of third Economic Impact Payment and any Plus-Up Payments you received to calculate your 2021 Recovery Rebate Credit amount using the 2021 RRC Worksheet or tax preparation software.

In early 2022, the IRS will send you Letter 6475 to provide the total amount of the third Economic Impact Payment and any Plus-Up payments that you received. You need to keep this and any other IRS letters you received about your stimulus payments with your tax records and refer to them when you file. Or you can log in to your online account to securely access your Economic Impact Payment amounts. If you are claiming a 2021 Recovery Rebate Credit, you will need the total amount of your third Economic Impact payment and any plus up payments to file your return accurately and avoid a refund delay.

Remember, only eligible individuals who did not qualify for a third Economic Impact Payment or did not receive the full amount should claim the Recovery Rebate Credit on a 2021 tax return. Do not include amounts of missing first or second stimulus payments on your 2021 return. See IRS.gov/rrc for more information.