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January 29
- The IRS started accepting tax returns on January 29, and will continue to accept federal tax returns through April 15.
www.cbsnews.com › news › tax-filing-2024-what-to-knowTax filing is open. Here's what to know about your 2024 tax ...
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Jan 29, 2024 · The IRS expects more than 146 million individual tax returns for 2023 to be filed this filing season, which has a deadline of April 15, 2024. 2024 tax filing season starts as IRS begins accepting tax returns today; taxpayer help expands this year with more in-person hours, better service, improved tools | Internal Revenue Service
- 2024 tax filing season set for January 29; IRS continues to ...
WASHINGTON — The Internal Revenue Service today announced...
- 2022 tax filing season begins Jan. 24; IRS outlines refund ...
WASHINGTON — The Internal Revenue Service announced that the...
- 2024 tax filing season set for January 29; IRS continues to ...
- Overview
- When is the 2024 tax filing season?
- When will the IRS issue refunds in 2024?
- Can I see the status of my tax refund?
- What is happening with the Child Tax Credit?
- Should I wait to file my taxes due to the Child Tax Credit?
- What is different with 2023 and 2024 tax brackets?
- Will I get a bigger tax refund in 2024?
The IRS started accepting tax returns on Monday, kicking off the 2024 tax season with a pledge to provide better service for taxpayers. For most tax filers, the top questions are whether they'll see a bigger tax refund — and how long will it take the IRS to send them their money.
More than half of Americans plan to file their taxes early this year so they can get their hands on their refund as soon as possible, according to a new study from Intuit Credit Karma.
The average refund check last year was just shy of $3,200 — an amount that typically represents a family's biggest check of the year. More than one-third of taxpayers who expect a refund plan to use the money for necessities, Credit Karma found.
One of taxpayers' biggest concerns is the timing of their tax refund, something that became a pain point during the pandemic when millions of refunds were delayed by IRS backlogs. But this tax season, the IRS is tapping billions in new funding provided by the Inflation Reduction Act, allowing it to hire more customer service reps and improve apps like its "Where's My Refund?" service.
"The earlier you file, the earlier you get your money," Mark Steber, chief tax information officer at Jackson Hewitt, told CBS MoneyWatch. "Frankly, there are other benefits to filing early."
Chief among them: Locking up your data from fraudsters, he said. Some scammers try to file early in the tax season by fraudulently using taxpayers' Social Security and work data, hoping to claim those refunds before the taxpayers themselves have had a chance to file, he noted.
The IRS started accepting tax returns on January 29, and will continue to accept federal tax returns through April 15.
Taxpayers in Maine and Massachusetts have until April 17 to file their taxes because of state holidays. People living in federally declared disaster areas can also get more time to file.
The IRS says that most taxpayers receive their refunds within 21 days.
That means that if you file your taxes on January 29, the earliest day possible, you should receive your tax refund by February 19.
However, that is a guideline, not a guarantee, and the tax agency warns that some returns may take more time to review, extending the period beyond 21 days.
It's also important to understand that the 21-day turnaround applies to people who file their taxes electronically. Paper returns can take much longer for the IRS to process.
The best way to check the status of your refund is to visit Where's My Refund? online at IRS.gov or on the IRS2Go app.
The IRS on Monday said that it is updating the "Where's My Refund?" tool to provide more details about a taxpayer's refund, rather than the typical message that the returns are being processed and to check back later. This season, taxpayers will see whether the IRS needs more information from them, as well as other details, the agency said.
Right now, there is a deal to expand the Child Tax Credit (CTC), which includes the possibility of making some changes retroactive to 2023 — the tax year that people are currently filing for.
That deal could provide a more generous refund amount to millions of parents.
Tax experts tell CBS MoneyWatch that you shouldn't hold off on filing your taxes in the hope that Congress will greenlight a more generous Child Tax Credit.
"I can emphatically say, without a question, never wait to file your taxes for possible pending D.C. legislation," Steber said. "It's just not an equation that works."
The IRS has adjusted its tax brackets for inflation for both 2023 and 2024.
In 2023, the tax brackets were adjusted upward by about 7% to account for last year's high inflation. To see those brackets, click here.
Some people could see bigger refunds this year, with some potentially receiving 10% more than a year earlier, Steber said.
Those taxpayers receiving bigger refunds are most likely to be workers whose income didn't keep up with inflation. For instance, if your wages rose 4% last year, that's below the 7% IRS adjustment to its tax brackets. The difference could result in a bigger refund.
Jan 10, 2024 · By Rob Wile. The IRS announced it will officially begin accepting 2023 tax returns on Monday, Jan. 29. But although official processing won't begin until that date, the agency said, filers...
Jan 30, 2024 · The IRS says that it successfully opened the 2024 tax season on Jan. 29, 2024. While tax returns could be prepared earlier this year, opening day officially marks the starting point for the...
Jan 12, 2023 · The IRS will begin accepting and processing 2022 tax year returns on Jan. 23, saying in News Release IR-2023-05 on Thursday that most electronic filers will receive their refund within 21 days if they choose direct deposit and there are no issues with their tax return.
