Starting Jan. 23, the 2023 tax season will be officially underway, as the Internal Revenue Service begins accepting and processing 2022 returns.

After a squishy few years of malleable tax law, thanks to the pandemic, the rules are a lot tighter this year. And the IRS has already warned taxpayers that refunds are likely to be smallerwith some people who expect to get money back ending up owing the government instead.

If you do get a refund, it could take a little longer, too. The tax agency has warned that some returns may need extra time to review this year, slowing the process. (This comes as millions are still waiting on their returns from last year to be processed.)

The IRS cautions taxpayers not to rely on receiving a 2022 federal tax refund by a certain date, especially when making major purchases or paying bills, it said in November.

The good news? Things should be better than last year. IRS watchdog, the National Taxpayer Advocate, said earlier in January that a light at the end of the tunnel of the IRS customer service struggles is within sight as the agency hires thousands of new workers.

Still, theres plenty of confusion among taxpayers. Fortunately, you can get free help putting together your taxesand you can always get an extension if you arent able to finish in time. Also, there are steps you can take which can get you a refund next year (or a bigger one if youre in line for money back for your 2022 filing).

Here are some answers to the most frequently asked tax questions.

When does tax filing season begin?

The Internal Revenue Service will begin accepting and processing tax returns for the 2022 tax year on Monday, Jan. 23, roughly the same time as last year.

The start of tax season is generally one of two peak times for the IRS, as people with relatively simple tax filings and those expecting big refunds often file as soon as possible. Many people, though, might not have all the paperwork they need at the start of filing season or delay their filing if they expect to owe taxes.

When are my 2022 taxes due?

Youve got until Tuesday, April 18 to file your taxes this year, three days later than usual. Thats, in part, because April 15 falls on a Saturday and because of of the Emancipation Day holiday in the District of Columbia. (By law, Washington, D.C., holidays impact tax deadlines for everyone in the same way federal holidays do.)

Not able to make the deadline? You can file for an extension before that date, which will give you until Monday, October 16, 2023 to file. Also, special rules apply to people serving in the Armed Forces who are in a combat zone/ contingency operation or have been hospitalized due to an injury sustained in such an area. Those individuals have 180 days after they leave the area to file and pay taxes.

What tax bracket am I in?

With income levels so drastically affected by the pandemic, tax law changes and more, its a good idea to see if your bracket has changed. It will, however, depend in part on how you file.

Whats the standard deduction for the 2022 tax year?

The standard deduction for married couples filing jointly jumped $800 to $25,900. For single taxpayers and married individuals filing separately, the standard deduction was up $400 to $12,950. And for heads of households, the standard deduction will be $19,400, up $600.

Next year, when you file your 2023 taxes, youll see those numbers climb to $27,000 for married couples filing jointly (an $1,800 increase) and single taxpayers and married individuals filing separately will see the standard deduction rise to $13,850, up $900. The standard deduction for heads of household will jump to $20,800 for tax year 2023, a $1,400 increase.

When will I get my refund from the IRS?

Typically, the processing time for returns that receive refunds is 21 days. However, thats no guarantee, and the IRS is warning people not to rely on receiving a 2022 federal tax refund by a certain date, especially when making major purchases or paying bills.

The average tax refund in 2022 (for the 2021 tax year) was roughly $3,20014% higher than the year before, according to tax officials.  But this years refunds will be smaller as some benefits have lapsed.

More than 168 million individual tax returns for the 2022 tax year are expected to be filed, with the vast majority of those coming before the traditional April tax deadline. The IRS says more than 9 out of every 10 refunds are issued within three weeks of the day the return is filed. The best place to track where things stand is with the Wheres My Refund? tool, which updates the status of tax refunds daily.

Whats the fastest way to receive my refund?

The best way to speed things along, says the IRS, is to e-file your taxes. That gets the information into the IRS system a lot faster than paper filings.

Step two: Make sure youve signed up for direct deposit, as the IRS says that can significantly speed up your refund. It also adds more flexibility. Your refund can be split into up to three separate accounts, including Individual Retirement Accounts.

Why will my refund be smaller in 2023?

During the pandemic, there were several benefits that increased individual refunds. But now, were back at 2019 levels.

The child tax credit, for example, will return to its normal rate this year after a big boost for the 2021 tax year. The enhanced rate boosted the credit to as much as $3,600 per child, depending on their age. This year, it reverts to $2,000 per kid under 18. For families with two children under six, that works out to a $3,200 reduction in credits. Similarly, the tax credit for child and dependent care expenses has dropped back to $2,100 this year from its pandemic high of $8,000.

That $600 above-the-line charitable donation deduction is gone. Also, if youre in one of the more than a dozen states that offered rebates or refunds last year, those checks could count as taxable income on your federal returns, even if you dont have to pay a state tax on them.

Refunds may be smaller in 2023, the IRS said bluntly in a statement last November. Taxpayers will not receive an additional stimulus payment with a 2023 tax refund because there were no Economic Impact Payments for 2022. In addition, taxpayers who dont itemize and take the standard deduction, wont be able to deduct their charitable contributions.

Im a hybrid worker and worked from home for most of 2022. Can I claim a home office expense?

Probably not.

If you received a W-2 form from your employer, any money you spend to improve your home office is not deductible. Home office deductions are reserved for self-employed individuals. So, even if you used your spare bedroom as an office, you wont be able to write that off (or any ancillary expenses, like a portion of your utilities).

If, however, you work for yourself and your income is in the form of 1099 statements instead of a W2 you are able to write off the percentage of your home that you dedicate exclusively to work.

Do I have to pay taxes on my unemployment benefits?

In 2020, in the heart of the pandemic, people who received unemployment benefits caught a break and didnt have to pay taxes on up to $10,200 in payments. That was a one-time benefit, though.

If you received unemployment benefits in 2022, that is considered taxable incomeand if you didnt have any money withheld when you signed up for those benefits, it could be a significant amount.

I earned a little money on Etsy/Ebay last year. Will I get a 1099 form for that?

Unless youre a power-seller, probably notbut you will next year.

The IRS has planned to require services like Ebay, Etsy, Venmo and CashApp to issue a 1099-K form when transactions topped $600 as part of the changes that came with the America Rescue Plan. However, right before Christmas it decided to delay that for a year, returning the threshold to $20,000 from more than 200 transactions, as it stood last year.

To help smooth the transition and ensure clarity for taxpayers, tax professionals and industry, the IRS will delay implementation of the 1099-K changes, the tax agency announced in a statement.

Next year, though, youll have to report that incomethough it does not apply to income from personal transactions such as sharing the cost of a car ride or meal, birthday or holiday gifts, or paying a family member or another for a household bill.

Is there a free tax filing system?

IRS Free File is a program that provides free online tax preparation and filing with IRS partner sites. Youll need to have made $73,000 or less to use the system, which open for the current tax filing season on Jan. 13.

How much do you have to make to file taxes?

It really comes down to your filing status and age.

People who are single and under the age of 65 who make $12,550 or above will need to file a return, according to the IRS. If youre 65 or older, the minimum amount jumps to $14,250.

Married filing jointly and under 65, the threshold is $25,100. (Its plunges to just $5 if youre filing separately.) If youre both OVER 65, that jumps to $27,800. And if one spouse is younger than 65 and one is older, its $26,450.

Heads of household who havent yet celebrated their 65^th birthday and make more than $18,800 will need to file. That jumps to $20,500 if theyre over that age.

Finally, widows and widowers under the age of 65 who make over $25,100 will need to file a return. For those older than 65, $26,450 is the line in the sand.

How do I file for an income tax extension?

Filing for an extension is actually an easy thing to do. The quickest way is via Free File, where you can electronically request one, which will extend your filing date until Oct. 17.

You will, however, need to estimate your tax liability, even if you havent calculated it. And youll have to pay any owed taxes on that estimate by the regular deadline.

You can also get an automatic six-month extension by using IRS Form 4868, which will also require you to estimate your tax liability, based on the data available to you. In this case, though, you wont have to make a payment immediately, but you will have to pay interest on your tax bill if you end up owing money.

I bought and sold cryptocurrencies last year. Will that affect my 2022 taxes?

If theres one bright side to the crypto winter, its that it could help you in tax season. Through tax-loss harvesting youll be able to write off up to $3,000 in losses.

Keep in mind that cryptocurrencies are subject to capital gains, meaning what you owe will depend on how much you gained or lostand how long you held the tokens. It could be anywhere from nothing to 20% of your profits if youre a long-term investor. If you jumped in this year, though, and held the crypto for under a year, youve triggered short-term capital gains and could owe up to 37% of your returns, assuming you got out before the market collapsed. Ideally, your exchange will provides you a Form 1099-B, summarizing profits and losses, but as 2022 demonstrated, not all exchanges are as reputable as investors believed.  

I bought and sold meme stocks in 2022. What sort of tax bill should I expect?

Just like crypto investors, short-term capital gains of up to 37% could apply, depending on when people bought or sold their shares. And losses could offset a portion of other income.  

What common tax mistakes should I look out for?

A tiny mistake can bring about big headaches when youre dealing with the IRS, resulting in everything from a delayed refund to an audit. Here are the most common errors, according to tax officials.

• Missing or inaccurate Social Security numbers
• Misspelled names
• Filing status errors
• Math mistakes
• Errors in figuring tax credits or deductions
• Incorrect bank account numbers
• Unsigned forms
• Filing with an expired Individual Taxpayer Identification Number (ITIN)

What happens if I file my taxes late without filing for an extension?

Bottom line? Youll end up paying more. There are two kinds of fees and penalties that could be assessed on top of any taxes you might oweone for filing late and another for paying late.  If you file your return more than 60 days late, youre likely looking at a minimum penalty of $210 (unless you owe less than that in which case the penalty is 100% of the unpaid tax). Otherwise, the penalty can be as much as 5% of the unpaid tax each month up to a maximum of 25%.

Late payment penalties are generally 0.5% of the unpaid tax per month, though that can build to as much as 25%. (The amount is cut considerably if you work out a payment agreement with the IRS.

Of course, if you file for an extension, these penalties do not apply. Similarly, if you can show reasonable cause for not filing, youll avoid them as well. And if you historically have filed on time, you might qualify for the First Time Abatement program, which will help you avoid any fees.

How can I get a bigger refund next year?

Given the revision to rules resulting in smaller refunds (or higher tax bills) this year, taxpayers might be looking for ways to prevent being hit with a tax bill again in 2023. To protect yourself, the IRSs Tax Withholding Estimator calculator is the best tool. This helps you target a specific refund amount and help you best prepare for it through adjustment withholdings. If you dont expect major income fluctuations through the year, its likely the best option.

Keep in mind that your income tax withholding isnt based on your marital status and withholding allowances any more. Instead, its now based on your expected filing status and standard deduction. You can also have itemized deductions, the Child Tax Credit and other tax benefits reflected in your withholding.

Nominations are coming out January 24, and as with most years, the top films are all over the map. But we almost always see a movie about moneya universal theme most of us can relate to. This year, Everything Everywhere All at Once, a sci-fi adventure features the most terrifying of villains: an IRS auditor.

Wall Street, Margin Call, Wolf of Wall Street all caught the attention of the Academyand audiences. But which movies about money have stayed with us the most? We decided to ask a few top executives about the finance-oriented films that helped shape their lives and careers. Heres what they had to say.

Sallie Krawcheck
Co-founder and CEO, Ellevest
Favorite money movie: Working Girl

20th Century Fox Film Corp./Everett Collection

This was a film in the late 80s about investment bankers on Wall Street. I grew up in Charleston, S.C., so I didnt particularly identify with Sigourney Weaver or Melanie Griffith or Harrison Ford, but I sure wanted to be them.

Melanie Griffith is a working girl from Staten Island, who ends up taking Sigourney Weavers job and doing it brilliantlyand wins Harrison Ford as well. In that way, it is a bit of a problematic movie, pitting women against women. 

But the important money lesson is that hard work pays off. You can overcome whatever boundaries there may bewhether you are from Staten Island or from Charlestonas long as you work hard enough.

Daymond John
Co-founder and CEO, FUBU; star of ABCs Shark Tank
Favorite money movie: Trading Places

That movie is everything. I have probably watched it 50 times. It makes me think, it makes me laugh. 

It touches on titans of industry, on capitalism at its core, on bigotry and the advantages that some people have. It teaches that we have more in common than we have apart, whether youre a prostitute, or a butler, or someone from the hood, or someone who went to Harvard.

Ive always been afraid of that famous phrase in the movie: Margin call, gentlemen! That was the first time I ever heard those words. Then the pandemic came, and it was margin call time, all around the world.

Ndamukong Suh
Defensive tackle, Philadelphia Eagles; founder, Suh Family Foundation
Favorite money movie: The Big Short

That is an awesome movie, especially in times like these. It shows how we got to the real estate crashthe mistakes people made in not understanding what they were getting involved in, with those particular types of mortgages.

If you have no financial literacy, the wool can get pulled over your eyes very easily, and you find yourself in trouble and over leveraged. Thats where the world went. So many people were taken advantage ofbut if youre educated enough, you cant be taken advantage of.

Reid Hoffman
Co-founder, LinkedIn; partner, Greylock
Favorite money movie: The Hudsucker Proxy

Warner Bros./Everett Collection

At the beginning of The Hudsucker Proxy, Norville Barnes (played by Tim Robbins) stands at the foot of New York Citys tallest skyscraper, holding what he believes to be his ticket to the top, a simple sketch of a circle hes been working on for two or three years.

It turns out Norvilles circle sketch really is a big ideathe Hula Hoop. Its rollout leads to record profits for Hudsucker, success for Norville, and inevitably, complications and Norvilles fall from grace.

In the end, entrepreneurial innovation and decency triumph over financial manipulation and greed. Norville retains control of Hudsucker Industries. He gets the girl.

Sure, its a simple story. But as the Hula Hoop and the Frisbee prove, sometimes the simplest ideas are the ones that are most powerful. And the most fun.

Dan Chung
CEO & CIO, Alger
Favorite money movie: The Color of Money

Great cast, great music, great director. Paul Newman is the retired legendary pool player, passing his wisdom on the road ahead to Tom Cruise, the super talented (but no idea how to channel it) young hustler. 

Investment management has that element, in that it takes both talent and experience to deliver great long-term results and build a great firm.  

Its a story of the importance of doing what youre best at, and what you love, to really be alive.

Pam Habner
CEO of U.S. branded cards and lending, Citi
Favorite money movie: Joy

It follows the story of real-life entrepreneur Joy Mangano as she sets lofty goals, bets on herself, juggles the struggles of her family life, and works incredibly hard to succeed in business.

These life skills are ones I focus on every day in my career and, like Joy, they are ones I teach my mentees and aspiring entrepreneurs as they build their careers. Id recommend any working mom watch this film for a realistic reminder that, while not perfect, there are paths to find career success and personal fulfillment. 

As a mom of twin boys, Ive quickly had to adopt the notion that my career is like a highway. Ideally, I am driving along in the fast lanebut its perfectly fine to move the car into a slower lane to manage my whole life. There have been long periods in my career where my job has taken precedence. Once I had children and my family started to become the most important thing to me, I was able to move in and out of the lanes as needed. 

Being a working mother like Joy is a master class in not sweating the small stuff, allowing yourself to achieve all your goals without saying, I have to step away from my career to be a good parent.

Theyve bopped everywhere from Egypt and Jordan to Thailand and the Czech Republic. From the outside looking in, it seems like this was such a crazy, rash decision, Zhu, 27, tells Fortune. But really, it was very thought out because were both pretty risk averse.

Their great adventure began in 2020 when Zhu started to realize finance wasnt for her. It wasnt getting me up in the morningnot that jobs should do that, Zhu says, adding that she felt burnt out.

After falling down an internet rabbit hole following full-time travelers who quit their jobs, she turned to Ovendorf and said, We have to do this. Ovendorf, 28, who enjoyed his work, was hesitant. But a stint working remotely in Colorado together went so smoothly that it convinced him to do a much longer trip.

The couple is part of the average 4 million people a month who joined the Great Resignation over the past few years. While some reshuffled into a different job, others, like Zhu and Ovendorf, exited the workforce entirely. The pandemic led many people to rethink how they want to live life, fueling a growing restlessness and existentialism among younger generations, who were already disenchanted by the increasing costs of buying a house, starting a family, paying for college, or simply just living. Remote work gave people the wheels to act on these dreams, accelerating alternative lifestyle trends like digital nomad living or working from a van.

Zhu and Ovendor opted for a yearlong mini-retirementa break from a traditional career trajectory to explore and unwind. Zhu says their generation is told to go to school and then get a degree and find a job and stick to that job for 40 years. But things have since changed. A lot of people are realizingthat 40 years is a long time. And, for us, we didnt want to exactly wait until we were 65 to start doing all these things that we wanted to do. 

So, they assessed their careers, finances, and other peoples travel itinerary and budgets to create a game plan: Save $45,000 and a small emergency fund. For about two years, they socked away an estimated $800 a month. 

They shared with Fortune how they brought their mini-retirement to life and kept costs down while on the road.

From carpools to $2-dollar meals

Zhu and Ovendorf were saving for a house in 2019, but decided to use that savings for their travel adventure. They cut down on going out, eating out, and buying non-essential items like clothes. At one point, Ovendorf had four roommates to help make rent more affordable. They also took advantage of low-cost alternatives, such as taking public transportation to get to work, carpooling for other outings, and enjoying free activities like hiking. Zhu even created an additional income stream, making and selling paintings on the side.

They finally hit their savings goal last March and took the plunge, narrowing down their top travel locations and scheduling the trip around rainy seasons and flight costs. Our plan was to not have a plan, Zhu says. And I think we purposely stuck to that just because you never know what new thing is going to pop up on your radar.

But they did know they needed to stick to their $45,000 budget. Ovendorf, maintained an intensive Google spreadsheet tracking how much the couple spends in each country and how in-line with their goals they are. 

They post every purchase they make on their website and TikTok to an audience of more than 189,000 followers. Because spending varies by the country, the duo doesnt have a set budget for each spending category, but they follow general guidelines. They typically choose the most affordable hotel in a safe area, whether its a hostel or a campsite. In more expensive countries, theyll buy groceries and make their own meals, and in cheaper ones, theyll take advantage of inexpensive restaurants.

To live how we are living, wed probably spend more living in the United States, Ovendorf says. Some people just dont realize you can travel for cheaper than we were living. 

For anyone looking to take a similar adventure, they advise getting a budgeting app or inputting expenses in a Google or Excel sheet. They say if youre a more responsible spender then you can give yourself leeway when budgeting and acknowledge spending will change monthly; but if youre someone that needs structure, then create budget categories and a doable goal.

When traveling the world, going over budget isnt the end of the world

Zhu and Ovendorf spend an average of 10 days to three weeks in one place. But their pace and the cost of plane tickets has hit their wallet harder than expected at times.

Despite all their careful planning, there are days they go over budgetbut its usually the result of a calculated decision. In Turkey, they once wrestled with taking a hot air balloon trip that cost around $225 per person. After polling their audience with a 50/50 split, they decided to just go for it.

If youre on a super strict budget, you can rob yourself of having some great experiences, Ovendorf says. So Im glad weve paid to enjoy and experience certain things.

But that doesnt mean you have to pay top dollar for memorable experiences. Zhu says she thinks about the time they took the Ha Giang Loop, a winding mountain range in Vietnam that borders China. Riding on the back of their tour guides motorcycles, they ate every meal with them and stayed with their families, singing karaoke together and drinking Happy Juice liquor at night.

Of course, there were lows too. Zhu cautions that full-time travel is very different from a vacation: It requires constant planning, which can lead to decision fatigue. Theyll return to the U.S. in March, with plans to look for jobs that would allow them to be digital nomads. 

Along the way, the two have found other people who also are flipping the script on what work should look like., You realize once you get outside your bubble, Ovendorf says, theres a lot of different ways to live life.

Learn how to navigate and strengthen trust in your business with The Trust Factor, a weekly newsletter examining what leaders need to succeed. Sign up here.