Experts offer tips on state, federal tax filings

Published: Jan. 23, 2023 at 3:58 AM CST
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QUINCY (WGEM) - Illinois, Missouri and Iowa resident can start filing their 2022 tax returns as the 2023 filing season opened Monday.

Those with Liberty Tax in Quincy said there are no significant changes for Illinois residents, but there are some major changes to the federal forms.

Office supervisor Mark Pegler said for 2021, the federal government had a lot more opportunities for tax credits and returns due to the impacts of COVID-19.

Pegler said for this year, they have raised the age threshold for the earned income credit from 18 to 25. He said they’ve also changed the amount for child tax credits.

“The child tax credit had gone up to $3,000 per child, it is back to $2,000 per child,” Pegler said. “It had actually included 17 year-olds in 2021, it’s back to they have to be younger than 17 in order to get that.”

World Finance Loan & Tax Service Quincy branch manager Tina Tedeschi said another change is you cannot automatically claim $300 for charitable contributions this year.

Tedeschi said there are also no changes to Missouri and Iowa state tax forms. She said for those hoping to try and get some credit, they don’t want to make any mistakes.

“We have a lot of people that come in and in the previous years they have filed and they didn’t include everything, all of their W2s or all of the forms,” she said. “They would think, ‘Well, maybe this one wasn’t as important,’ and then they get audited or their taxes are held up, so always make sure you have everything that you need.”'

Tedeschi said also make sure you have an updated drivers license. She said last year’s rules allowed people to file their return with an expired license but that is no longer the case.

She also recommends to keep a close eye on your payroll, as sometimes people find out they haven’t had enough federal or state tax taken out. She recommends filing early and not waiting, as it gives you more time to find what you need to file.

The deadline to file your federal return is April 18. Illinois and Missouri residents will also have to have their state returns in by that date as well. Iowa residents have until the end of April to submit their state returns.

If you need assistance filing you can go onto the IRS’s website for resources. You can also call Liberty Tax at (217) 224-2300 or World Finance at (217) 224-3148.

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