DETROIT – Friday is the first day you can submit your tax information to the IRS.
Financial expert Tom Hakim said you should do a review of last year, get all your paperwork together. The quicker you get the return in the quicker you’ll get your refund.
“I think you’re going to want to file earlier because my gut tells me there’s going to be a lot of delays anyway,” he said.
Filing early is key, especially for those who are awaiting another stimulus check. When you file make sure you update your personal information and banking information -- that way if another stimulus check is issued you will get it without delay.
Watch the video above for the full report.
The IRS has made changes to the tax bracket -- here’s what it will mean for you
Earlier this week, the IRS announced the 2021 tax year annual inflation adjustments for more than 60 tax previsions. Those include tax rate schedules and other tax changes.
Everyone who pays taxes is grouped into seven brackets: 10%, 12%, 22%, 24%, 32%, 35% and 37%. The changes have been made to keep pace with cost-of-living adjustments.