Tax Day 2024: Here’s when the IRS will start accepting tax returns this year

The IRS said Monday that it is opening the tax filing season on January 29, which means that taxpayers will have between that date and April 15 to file their returns. People who need extra time can still request an extension, which gives them until mid-October to file. Many different factors can affect the timing of a refund after the IRS receives a return. Although the IRS issues most refunds in less than 21 days, the IRS cautions taxpayers not to rely on receiving a refund by a certain date, especially when making major purchases or paying bills. Some returns may require additional review and may take longer. The easiest way to check a refund’s status is by using Where’s My Refund?

What is the new standard deduction?

For more information, see Notifying the IRS by Email about Combat Zone Service. If day 15 falls on a Saturday, Sunday or legal holiday, the due date is delayed until the next business day. Your return is considered filed on time if your envelope is properly addressed, postmarked and deposited in the mail by the due date. The updates will provide taxpayers with more details, such as whether the IRS needs them to respond to a letter asking for more information, the agency added. Now, with increased funding the IRS expects a smoother filing season with less backlogs, but now it is seeing persistent threats of funding cuts. Most software companies accept electronic submissions and then hold them until the IRS is ready to begin processing later this month.

New Laws, Bigger Deductions: Changes For The 2024 Tax Season

The tax season opening date, which usually falls in late January, marks the time when the IRS begins to accept and process tax returns for the previous tax year. As always, be sure that you have all the information you need before you file. You are responsible for filing a complete and accurate tax return, so gather your records and tax forms and double-check your taxpayer identification number and PIN.

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However, taxpayers don’t need to wait until that date to start working on their taxes. The IRS Free File program will be available starting Jan. 12., with some software companies able to accept completed tax returns and hold them until they can be filed. IRS Free File Guided Tax Software will also be available to any taxpayer or family with an Adjusted Gross Income of $79,000 or less in 2023 through the IRS site, IRS.gov. The agency said IRS Free File for taxpayers with annual incomes of $79,000 or less will also be available on IRS.gov starting Friday. However, the new IRS Direct File pilot, which will allow eligible taxpayers to file https://www.bookstime.com/blog/how-to-meet-your-bookkeeping-needs their taxes online for free directly with the IRS, won’t be fully rolled out until mid-March.

• Taxpayers can visit IRS.gov 24 hours a day to get answers to tax questions.
• Thousands of people have lost millions of dollars and their personal information to tax scams.
• To claim either credit, taxpayers will need to provide the vehicle’s VIN and file Form 8936, Qualified Plug-in Electric Drive Motor Vehicle Credit, with their tax return.
• The IRS expects more than 128.7 million individual tax returns to be filed by the April 15 tax deadline.
• Taxpayers living in Maine or Massachusetts have until April 17, 2024, due to the Patriot’s Day and Emancipation Day holidays.

Before You Leave, Check This Out

However, new changes outlined in the ARP reduced the threshold for Form 1099-K reporting to $600 or more. “As our transformation efforts take hold, taxpayers will continue to see marked improvement in IRS operations in the upcoming filing season,” IRS Commissioner Danny Werfel said in a release. IRS Free File will be available on IRS.gov starting Jan. 12 ahead of the filing season opening. Taxpayers will continue to see helpful changes at the IRS following ongoing transformation work. Building off the success of the 2023 tax season that saw significant improvements tax filing following passage of the Inflation Reduction Act, the 2024 filing season will continue reflecting the focus on improving services to taxpayers.

When can you start tracking your refund?

Will be updated with projected deposit dates for most early EITC and ACTC refund filers by Feb. 17. With the start of the 2024 filing season, the IRS will be extending hours of service in nearly 250 Taxpayer Assistance Centers (TACs) across the country, providing additional help to people. The IRS will also be working to continue improvements on its phone service as well as expanding online tools. Tool on IRS.gov will add more details for taxpayers checking on the status of their tax refund.

Have itemized deductions changed?

That’s a $6,000 increase over last year’s income limit for the service. In the past, not many filers eligible for Free File used the program. But this tax season, retained earnings the IRS says participation is up about 10%.

This time, the delay is for 2023 federal tax returns, confusing payment networks and casual online sellers. WASHINGTON — The IRS on Monday announced January 29 as the official start date of the 2024 tax season, and expects more than 128.7 million tax returns to be filed by the April 15 tax deadline. However, it added that people can start working on their taxes prior to that, either with a tax professional or software company. Likewise, it will make the IRS Free File program available for tax prep starting on January 12, with participating software companies accepting completed tax returns and holding them until they can be filed on January 29. WASHINGTON (AP) — The IRS on Monday announced January 29 as the official start date of the 2024 tax season, and expects more than 128.7 million tax returns to be filed by the April 15 tax deadline.

When could I start filing my taxes in 2024?

States set their own tax season deadlines, which may or may not mirror the federal dates. Your state tax department’s website is often the best resource for up-to-date filing information. This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. Our partners cannot pay us to guarantee favorable reviews of their products or services.