The last-minute tax-crunch edition

Tax Day is April 18. You still have a week. Ish. [  Advertiser disclosure]( [View in browser  ]( [Bankrate®]( Time flies. You might have gotten your W2s in January, but with the tulips in bloom, you're probably getting a sense of dread from your unfiled returns. Whether you've got eight jobs or are running a business, we're here with resources to help. (No bribing IRS agents with cookies needed). Honey, I shrunk the refund Fewer credits and deductions cause tax woes [alt goes here]( Taxes have extra reason to be stressful this year. Sixty-nine percent of Americans [polled by Bankrate]( this year cite that the size of their refund keeps them up at night, and with good reason. With the end of many pandemic-era deductions, breaks and credits, the IRS is warning that your refund will likely be smaller for the 2022 tax season. The big numbers: 1. Filers are using their refunds to get ahead. Twenty-eight percent said they will use their tax refund money to pay down debt and 26 percent said they will use the funds to boost their savings. 2. Over one-third of filers are expecting inflation to eat into their refund's impact. 3. With this year’s tax chaos, 20 percent of Americans said they don’t know what to expect from their refund. The big impact: Small refunds are putting people in dire financial straits. Seventy-five percent of respondents said they depend on their refund for their financial health – up from 67 percent last year. Where do we go from here? Take your time with your tax return and make sure you're getting every deduction and credit you qualify for. If you're scrambling at the last minute, don't worry – [you can file an extension](. Expert’s take “It’s reasonable to expect that many people will receive smaller tax refunds this year. That’s mostly because many pandemic-related tax breaks have expired: stimulus payments, the expanded child tax credit and the expanded child and dependent care credit, to name a few.” [Ted Rossman, Bankrate senior industry analyst]( How to file your taxes fast Quicker than you can say, "everything bagel" [alt goes here]( Don't fret! If you're scrambling at the last minute, Bankrate has a quick guide for the things you should keep in mind – including taxes for remote workers, new tax breaks and more. Quick bite: If you earn less than $73,000 per year, you can use the IRS's Free File electronic submission program to get your refund quicker. [Read article]( Quiz: What percentage of Americans wait until April to do their taxes? a. 05 percent b. 11 percent c. 13 percent d. 33 percent Find the answer at the end of this week’s edition! Quick n' dirty homeowner deductions From mortgage interest to solar panels [alt goes here]( Fun fact: owning your home gives you tax perks. While your mortgage payments and property taxes probably eat a good chunk of your paycheck, the IRS offers tax breaks for certain homeowner expenses. See if you qualify today and start bulking up your refund. [Read article]( Rapid-fire session: Got tax questions? We’re here to answer. What happens if I don't file? You can get hit with [penalties or garnished wages](. Ouch! Can I pay my taxes with a personal loan? Sure, but there are [better options](. How do student loans impact my return? Good news – you can deduct your [interest payments]( Got crypto? 2022’s tax form will ask you if you [traded any cryptocurrency](. Just because you don’t get a 1099 for Bitcoin doesn’t mean you shouldn’t report your gains! The best tax software of 2023 "Alexa, file my return" [alt goes here]( Filling out tax forms on your own can be confusing and prone to error (does your karaoke machine count as a business expense?). When you're in a time crunch, tax software can help you file more quickly, accurately and without the stress. [Read article]( c. [13 percent of Americans]( leave their taxes to the last minute. Oops! © 2023 Bankrate LLC. All Rights Reserved. Bankrate LLC • 38 01 PG A Boul evard • Su ite 5 55 • Palm Beach Gardens, FL 33410 You received this update at {EMAIL} because you have a Bankrate account. You may unsubscribe from this email [here](. View our [privacy policy](.