Filing a U.S. Tax Return for the First Time in 2022? Here are Some Important Considerations
Articles/News, Offshore Account UpdatePosted in on January 31, 2022
On January 13, 2022, the Internal Revenue Service (IRS) published a Tax Tip titled, “Here Are Reasons People Who Don’t Normally File Should File a 2021 Tax Return.” The Tax Tip goes on to explain various reasons why taxpayers may be entitled to refunds, and it discusses the opportunities that are available for first-time filers to claim child tax credits and recovery rebate credits, among others. But, what the IRS’s Tax Tip doesn’t explain is that filing for the first time can be risky if you should have filed in the past. With this in mind, here are some important considerations for first-time filers in the U.S. and abroad from New Jersey tax attorney Kevin E. Thorn, Managing Partner of Thorn Law Group:
Read More