The IRS will begin accepting 2024 federal tax returns on January 27th

The IRS will begin accepting 2024 federal tax returns on January 27th



CNN

The official start date of this year’s tax filing season will be Jan. 27, the IRS announced Friday.

This is the first day the agency will begin accepting and processing 2024 income tax returns.

“This has been a historic period of improvement for the IRS, and people will see additional tools and features this tax season to help them file their taxes,” IRS Commissioner Danny Werfel said in a statement.

These improvements include expanded use of online chatbots and voicebots when applicants call the IRS with questions.

The official deadline to file your 2024 tax return will be April 15, the agency said.

However, not all people who are required to apply have to meet this deadline. In fact, for millions of Americans, this will not be necessary this year.

That’s because your filing deadline may be different if you live or do business in a federally declared disaster area. You will receive an automatic extension of time to file and pay any remaining federal income taxes you may owe. (The IRS compiles a list of these areas and relevant tax filing deadlines here.)

For example, the IRS said on Friday that due to the fires and straight-line winds in Southern California this week, “individuals and households that reside or have a business in Los Angeles County” will receive tax relief for various filing and payment deadlines that would otherwise be between January 7th and October 15th will be the case. They now have until October 15 to file and pay any amounts owed during this period, including their 2024 taxes.

Likewise, due to the devastation caused by Hurricanes Helene and Milton, all taxpayers in Alabama, Florida, Georgia, North Carolina and South Carolina, as well as parts of Tennessee and Virginia, have until May 1 to file their 2024 tax returns and pay any taxes, according to the IRS due.

If you’re not in a group that gets an automatic extension, but you can’t file by mid-April, you can request an automatic six-month extension by April 15. If you owe money, you’ll be penalized for late returns late filing imposed. And if you owe money, you should be aware that an extension of time does not mean an extension of time to pay. Your payment is still due on April 15th. If you don’t pay by then, you’ll also face late payment penalties.

The Direct File program expands to 25 states

The agency announced Friday that its Direct File pilot program will now be open in 25 states, up from 12 when it launched last year. The program allows eligible taxpayers to file their taxes directly with the IRS for free starting January 27th.

The states where Direct File is now available are: Alaska, Arizona, California, Connecticut, Florida, Idaho, Illinois, Kansas, Maine, Maryland, Massachusetts, Nevada, New Jersey, New Hampshire, New Mexico, New York, North Carolina, Oregon, Pennsylvania, South Dakota, Tennessee, Texas, Washington State, Wisconsin and Wyoming.

The IRS said the program will cover more tax situations this year than before, including for filers seeking the Child and Dependent Care Credit.

The IRS also announced that starting today, January 10, anyone who is eligible to file their tax return for free through one of the private IRS Free File partners can do so.

“This year, eight private sector partners will offer online managed tax software products for taxpayers with adjusted gross income (AGI) of $84,000 or less in 2024. “In addition, a partner will offer a product in Spanish,” the agency said in a release.

It also noted that each of the private sector partners has its own eligibility criteria based on factors such as age, income and in-state residency, but added that all are “active military personnel with an AGI of $84,000 or.” less in 2024 for free” offering tax preparation and filing with IRS Free File.”

If you expect a refund and do not submit the application on time, you will not face a penalty. However, you will not receive your refund until you submit the application.

Most U.S. taxpayers typically receive a refund, which the IRS typically issues within 21 days of accepting your tax return. However, the agency notes on its website that the IRS legally cannot issue the EITC-related refund until mid-February if you claim an Earned Income Tax Credit.

Last year, the IRS issued more than 103 million refunds out of the nearly 161.5 million tax returns filed. The average refund was more than $3,100, Werfel said in a press briefing.

To find out how quickly you can expect to receive your refund after you file your return, you can use the agency’s Where’s My Refund tool. But in general, “filing electronically and choosing direct deposit is the best way to get a refund quickly,” Werfel said in a press call.

Some filers may also receive a separate check from the IRS in the next few weeks. Just before Christmas, the agency said it was sending payments to 1 million filers who it determined were eligible for the refund credit for 2021 but who didn’t claim it on their tax returns for that year.

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