As of October 15, the last extensions for the 2023 tax season ended. This means that the Internal Revenue Service (IRS) and its employees are now truly getting ready for the 2024 tax season.
As it does every year, the first day you can file your taxes online will be sometime in late January. Last year, it was the 29th of the month, and there are no signs that this will change. The date will be announced before the new year.
People who file in person can start getting their returns on the first of the month, but the child tax credit and other credits that can only be given to one person per household won’t be processed until at least February 15. This is when the returns will begin, so it doesn’t matter how early you file; you may have to wait to get your return.
The 2024 IRS tax season changes
The agency is still committed to improving speed, which is something they have been working on for several years now. They want to make the system work better so that tax returns are processed faster and there are no longer lines for questions.
This year’s major change to make tax season better is to make Direct File, the IRS’s new free electronic filing service that started last year, available to more people.
Most people don’t do their own taxes by hand; instead, they use software from private companies like TurboTax to make sure their returns are filed properly. Because of this, the government wanted to make their own system that would make filing easier for taxpayers.
If everything is done exactly as it should be, even tax refunds will be handled faster. If they chose direct deposit as their payment method, they will get their money eight days after filing.
The IRS usually processes online returns within 21 days. However, paper and amended returns take longer because workers have to process them by hand. Most of the time, these returns take at least 4 weeks, but it can take even longer if changes need to be made.
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The Direct File program has grown from its original 12 pilot states to 24 states that have already signed up for the 2024 tax season. This should make the office even more efficient.
Direct File works for people who lived in one of these states all of 2024: Alaska and Arizona. states of Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, Oregon, Pennsylvania, South Dakota, Tennessee, Texas, Washington state, Wisconsin, or Wyoming; and other states as well.
If you moved in the middle of the year, you won’t be able to use the program. Instead, you will need to use a regular tax filing company or software.
The tool will also be able to handle more types of refunds, which means that more people with more complicated tax returns will be able to use it. This will speed up the processing of tax returns and make the program even more effective for the next tax season. This will free up agency resources to go after tax fraud and help people with more difficult cases that need more specialized help.
If you’re not sure if you need to file taxes this year, you should talk to a tax professional who can help you through the process. But keep in mind that if you are eligible for any refunds or credits, you need to file taxes in order to get them. If you don’t, you could lose the money you are owed. You can call the service directly if you have any questions about the process.
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