The good news is that Nebraska does not tax stimulus checks. The IRS states that stimulus payments are regarded as tax credits rather than income. As a result, you are exempt from reporting them on your tax return and paying taxes related to them. Taxes won’t be due on the stimulus payments you get in 2020 or 2021.
You can begin filing your taxes on January 24, 2022, if you’re wondering when you can file your 2022 taxes. The IRS will start accepting tax returns on this date for the 2021 tax year. The filing deadline for federal tax returns is still April 15, 2022, so keep that in mind. You have until October 15, 2022, to ask for an extension if you need additional time to file your taxes.
Your income, tax credits, and deductions, as well as other variables, will all affect how much tax you owe year 2021. The IRS has not yet made the tax brackets for the 2021 tax year public, though. The tax rates for 2020 were as follows: 10% for earnings up to $9,875 – 12% for a household income of $9,876 to $40,125 – 22% for income in the $40,126 to $85,525 range. For incomes between $85,526 and $163,300, the tax rate is 24%. For incomes between $163,301 and $207,350, 32% are applied. – 37% for income exceeding $518,400 and 35% for income between $207,351 and $518,400
When Can You File Your 2021 Taxes?
Beginning on January 24, 2022, you can start filing your taxes for the 2021 tax year. You should be aware that the federal tax return filing date is April 15, 2022. You have until October 15, 2022, to ask for an extension if you need additional time to file your taxes.
Do I Need to File Nebraska State Taxes? If you lived in Nebraska in 2021 and made money, you must submit a state tax return. Depending on your income, Nebraska levies a state income tax that ranges from 2.46% to 6.84%. Also due on April 15th, 2022, is your Nebraska state tax return. However, you can be subject to fines and interest on your state taxes if you file your federal tax return after the deadline and owe taxes. In light of this, it’s crucial to submit your federal and state tax forms on time.
In conclusion, Nebraska does not tax stimulus payments, and the April 15th, 2022, deadline is looming for submitting your federal tax return for the 2021 tax year. On January 24, 2022, you can begin filing your taxes for the 2021 tax year. Nebraska residents who made a profit in 2021 must submit their state tax returns by April 15 of the following year.