Stay informed about the 2024 tax season as the IRS begins accepting tax returns. Learn about filing deadlines, processing times, and important tips to avoid delays.
Officially, the 2024 tax season has begun (Photo: OkCredit)
Millions of Americans Can Now Begin Filing Tax Returns as the IRS Opens the 2024 Tax Season and Accepting Returns
Officially, the 2024 tax season has begun, when millions of Americans will be able to commence the process of submitting their tax returns, as announced by the Internal Revenue Service (IRS). The significance of timely filing to guarantee efficient returns is emphasized as the IRS readies to process more than 146 million individual tax returns. Exceptions will be made for residents of Massachusetts and Maine on account of regional holidays, which will impact the filing deadline of April 15, 2024.
Taxpayers living in federally declared disaster areas may also have additional time to file, and it’s crucial to understand that the timing and method of filing can impact when refunds are received. While direct deposit refunds typically arrive after 21 days, paper filing may take longer, with checks usually issued within 30 days. However, those with incomplete or incorrect information may face extended waiting periods. Tracking your refund through the IRS website’s “Where’s My Refund” page is recommended.
To avoid processing and refund delays, it’s vital to gather all required information before filing. Correct filing will prevent the need for amended tax returns, while a thorough review of documents can ensure eligibility for important tax credits.
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Additionally, qualifying taxpayers with an adjusted gross income of $79,000 or less in 2023 can avail of the free IRS Free File service, aimed at providing financial assistance and streamlining the filing process. Employers are mandated to provide W-2 and 1099 income tax forms by the end of January, and in case of any delays, employees are advised to communicate with their employers promptly.
As the IRS sets the stage for the 2024 tax season, taxpayers need to be well-informed about the filing process, deadlines, and potential delays. Early and accurate filing, thorough document review, and utilization of available resources such as the IRS Free File service can significantly impact the efficiency and outcome of the tax return process.
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