IRS Announces When You Can Start Filing Taxes

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When Can I File Taxes in 2024?

when can you start filing taxes?

The Internal Revenue Service has announced the official start date of the 2023, and 2024 tax year returns.

If you are ready to begin filing your tax return, you can get started now. Online tax filing providers can begin accepting tax returns before the IRS acceptance date.

They will simply hold your tax return and submit it the first day the IRS begins accepting 2023 tax returns.

The fastest way to ensure prompt processing of your tax return, and a quick tax refund, is to file your return electronically and select the ‘Direct Deposit’ payment option.

If you are claiming the Earned Income Tax Credit or the Child Tax Credit and are expecting a tax refund, the IRS has confirmed that it will begin issuing deposits the first week of March. Your refund will be available in your bank account and on any associated debit cards and may be used immediately.

Under the current laws, the IRS is unable to issue refunds to taxpayers claiming these two tax credits before the middle of February. The IRS is required to hold the taxpayer’s entire refund until this time, even the portion of the refund not originating with either of these two credits.

The reason for this is to give the IRS the time it needs to conduct anti-fraud procedures and detect any errors.

How Can I Make Filing My Tax Return Easier?

Filing tax returns can be a daunting task, but there are some steps you can take to make the process easier.

1. Keep accurate records: Make sure you keep all of your financial records organized and up-to-date throughout the year. This can include receipts, bank statements, and any other relevant documents.

2. Use tax software: Consider using tax software to help you prepare and file your return. Many programs provide step-by-step guidance and can help you identify deductions and credits you may have missed.

3. Hire a professional: If you have a more complex tax situation, it may be beneficial to hire a tax professional. They can help you navigate the tax code and ensure that you are taking advantage of all available deductions and credits.

4. File early: Don't wait until the last minute to file your return. Filing early not only reduces stress but also gives you more time to address any issues that may arise.

By following these tips, you can make the process of filing your tax return easier and less stressful.

Dates to Remember

January 24, 2024 – The date the IRS begins accepting returns.

April 15th, 2024 – Due date for extensions to file requests and the due date for filing your 2023 tax return. Failure to meet this deadline may lead to penalties and interest.

October 15th, 2024 – If you have filed a request to file your return late, this is your new deadline for filing your 2023 tax return.