As tax season approaches, individuals are gearing up for filing their returns. In Tennessee, residents enjoy the advantage of no personal income tax, but federal tax considerations remain crucial. The IRS has announced that the 2024 tax season kicks off on January 29, with the agency starting to accept and process returns on that date.
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Key Dates for Filing:
Taxpayers eager to get ahead should mark January 29 on their calendars as the official start of the 2024 tax season. However, the deadline for filing 2023 taxes in 2024 remains the familiar April 15, offering ample time for preparation.
Tennessee residents, spared from a state personal income tax, should still be mindful of their federal obligations. Knowing the key dates ensures a timely and stress-free filing process.
The Direct File pilot by the IRS, expected to be widely available in mid-March, offers a free filing option for eligible taxpayers in Tennessee and other states. Understanding eligibility criteria is crucial for those considering this service.
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Free Filing Options and Eligibility:
Exploring free filing options is a common concern for many taxpayers. IRS Free File and the Direct File pilot are two avenues offering cost-free filing, with the latter providing direct electronic filing with the IRS.
Eligibility for free filing is contingent on factors like income, tax credits, and deductions. The IRS Direct File pilot, launching in phases, has specific parameters for the types of income and credits it supports.
Taxpayers should stay informed about the eligibility criteria, ensuring they leverage available resources for a smooth and cost-effective filing experience.
