At the start of each year, taxpayers across the United States prepare for the much-anticipated tax season, which officially begins in late January. For 2024, the Internal Revenue Service (IRS) announced that the tax filing period kicks off on January 27 and runs until the deadline of April 15. With over 140 million returns expected to be filed, taxpayers should pay attention to the latest updates, including income tax brackets, contribution limits, and technological improvements to streamline the filing process.
Here’s a breakdown of everything you need to know about this tax season.
Key Dates and Tools
- Start of Tax Season: January 27, 2024.
- Deadline to File: April 15, 2024.
- Free File Tools Available: Starting January 10, 2024.
To make filing more accessible, the IRS has partnered with Free File tools, software designed to help individual taxpayers file their returns at no cost. These tools are especially useful for those with simpler tax situations or lower income levels.
IRS Technology
The IRS is currently undergoing a massive overhaul to enhance its technology and customer service systems. Here are some of the agency’s key goals for the 2024 tax season:
- Refunds in Under 21 Days:
The IRS expects most refunds to be issued in less than 21 days for taxpayers who file electronically and choose direct deposit. - Faster Response Times:
With improved customer service processes, the IRS aims to maintain response times of less than five minutes for inquiries. - Expanded Rural Outreach:
The agency plans to grow its rural outreach program by 20%, ensuring more taxpayers in underserved areas can access tax preparation assistance. - Extended Office Hours:
The IRS will offer 10,000 hours of extended office hours to accommodate more taxpayers during the busy filing season.
Refund Tracking
To keep taxpayers informed, the IRS recommends using the ‘Where’s My Refund?’ tool on their website.
- For E-filers: Refund status updates are available within 24 hours after submitting your return.
- For Paper Filers: Expect updates to be available approximately four weeks after filing.
This tool provides real-time updates, making it easier for taxpayers to plan around their refunds.
Smooth Tax Filing
To ensure you have a seamless experience this tax season:
- File Early: Filing your return early reduces stress and gives you more time to address any issues or missing documents.
- Use Free File Tools: Save money and streamline the process by leveraging IRS-supported software.
- E-file with Direct Deposit: Electronic filing and choosing direct deposit is the fastest way to receive your refund.
- Keep Records Organized: Have all necessary forms, such as W-2s, 1099s, and receipts for deductions, ready before filing.
Tax season may feel overwhelming, but the IRS’s technological improvements, faster refund timelines, and expanded services aim to make 2024 a smoother experience for taxpayers. Stay informed, file early, and take advantage of the tools and resources available to maximize your refund and minimize stress.
FAQs
When does tax season 2024 start?
Tax season begins on January 27, 2024.
How can I track my tax refund?
Use the IRS ‘Where’s My Refund?’ tool for real-time updates.
What is the filing deadline for 2024?
The deadline to file is April 15, 2024.
How long does it take to receive a refund?
Most refunds are issued in less than 21 days for e-filers.
What is the best way to file taxes?
E-file with direct deposit for faster processing and refunds.
