Get ready for Tax Filing Season 2024 and consider initiating the process promptly.
The IRS has declared that the official kickoff of tax Filing Season 2024 is set for January 29. This marks the initial day when the IRS will start accepting and processing 2023 tax returns, as announced on Monday.
While the deadline for most taxpayers to file federal returns and settle balances is April 15, the agency encourages taxpayers to start the filing process early to avoid penalties and interest.
Free File Options and Online Innovations in Tax Filing Season 2024
As Tax Filing Season 2024 approaches, IRS Free File, providing free guided tax preparation through software partners, is set to open its doors on January 12. Returns will be held until they can be officially filed with the IRS. Taxpayers with an adjusted gross income of $79,000 or less for 2023 may qualify for this service. Prepare for Tax Filing Season 2024 by taking advantage of the IRS Free File option starting January 12.
During Tax Filing Season 2024, keep an eye on the IRS Direct File pilot. This initiative is set to introduce free online filing directly through the agency, gradually rolling out in phases.
Eligible taxpayers in participating states can anticipate widespread availability by mid-March. Stay tuned for updates and consider this convenient option as it becomes more widely accessible during Tax Filing Season 2024.
IRS’s Danny Werfel Seems Optimistic
IRS Commissioner Danny Werfel expressed optimism about the upcoming filing season, stating, “As our transformation efforts take hold, taxpayers will continue to see marked improvement in IRS operations.”
He emphasized the commitment of IRS employees to utilize new funding for the benefit of taxpayers, aiming to simplify the process of preparing and filing taxes.
Anticipate positive changes in IRS operations during the upcoming filing season, reflecting their ongoing efforts to enhance taxpayer experience.
Projections, Refund Averages, and Swift Processing for Tax Filling Season 2024
With expectations high for Tax Filing Season 2024, the IRS foresees receiving over 128.7 million individual tax returns by the federal deadline. As of December 29, the average refund for the 2023 tax year stood at $3,167.
During Tax Filing Season 2024, anticipate quick processing, as most refunds are set to be issued in less than 21 days.
Earned Income Tax Credit (EITC) refunds are expected to be available starting Feb. 27, with Additional Child Tax Credit (ACTC) refunds following suit in mid-February.
Keep an eye on refunds for an updated status, with most early EITC/ACTC filers expected to see changes by Feb. 17. Stay informed for a smoother refund experience during the upcoming filing season.
- Jan 12: IRS Free File opens.
- Jan 16: Due date for 2023 fourth quarter estimated tax payments.
- Jan 26: Earned Income Tax Credit Awareness Day.
- Jan 29: Filing season start date for individual tax returns.
- April 15: Due date of filing a tax return or to request an extension for most of the nation.
- April 17: Due date for Maine and Massachusetts.
- Oct 15: Due date for extension filers.
Stay informed and prepare for the filing season, where a significant number of taxpayers are anticipated to submit their individual returns to the IRS.
