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January 24, 2022
- WASHINGTON — The Internal Revenue Service announced that the nation's tax season will start on Monday, January 24, 2022, when the tax agency will begin accepting and processing 2021 tax year returns.
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Apr 15, 2024 · Page Last Reviewed or Updated: 26-Apr-2024. IR-2024-109, April 15, 2024 — With the April tax filing deadline here, the Internal Revenue Service highlighted a variety of improvements that dramatically expanded service for millions of taxpayers during the 2024 filing season.
- 2024 tax filing season set for January 29; IRS continues to ...
WASHINGTON — The Internal Revenue Service today announced...
- 2024 tax filing season starts as IRS begins accepting tax ...
The IRS expects more than 146 million individual tax returns...
- 2024 tax filing season set for January 29; IRS continues to ...
- Standard Deductions Increased. When filing your taxes, you can choose to claim the standard deduction or to itemize your deductions. The IRS estimates that 90% of tax filers claim the standard deduction, an amount set by the agency that’s linked to your filing status and other factors.
- Income Tax Brackets Expanded. Along with higher standard deduction amounts, the IRS has adjusted the income tax brackets from the 2022 tax year. The income tax bracket changes mean that, as with higher standard deductions, taxpayers can expect to see a slightly smaller tax bill.
- New 1099-K Reporting Threshold for Payment Apps Delayed. The American Rescue Plan (ARP) of 2021 modified the requirements for reporting transactions involving payment apps, also known as third-party processors.
- Business Owners Can Expect Changes to Deductions. Business Meals Only 50% Deductible. During the pandemic, for the calendar years of 2021 and 2022, business owners were temporarily allowed to deduct 100% of the cost of work-related meals and beverages at restaurants.
- 2024 child tax credit? You may have heard that Congress is considering tax legislation that includes an enhanced child tax credit (CTC). If approved, the bipartisan tax deal would expand the popular tax credit and benefit around 15 million children in the United States.
- IRS 1099-K form 2023. The IRS has delayed the so-called $600 rule for 1099-K reporting again. This time, the delay is for 2023 federal tax returns, confusing payment networks and casual online sellers.
- Free File taxes. IRS Free File allows people with income within a specific limit to file their federal income tax returns for free. The program connects taxpayers with the agency’s trusted tax prep partners, which differs from the new Direct File pilot program mentioned below.
- Tax brackets 2023. As you likely know, federal income tax rates are tied to tax brackets that change yearly for inflation. That means you could fall into a higher or lower tax bracket each year based on your income and pay a different tax rate from one year to another.
Jan 8, 2024 · The IRS has announced Jan. 29 as the start date of the 2024 tax season, and expects more than 128.7 million tax returns to be filed by the April 15 tax deadline.
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Jan 8, 2024 · WASHINGTON (AP) — The IRS on Monday announced January 29 as the official start date of the 2024 tax season, and expects more than 128.7 million tax returns to be filed by the April 15 tax...
