Here Is How Early and How Late You Can File Your Taxes This Year

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 deadline. The primary deadline for e-filing the previous year’s tax return is April 15. When this date falls on a weekend or a legal What is bookkeeping holiday, the deadline shifts to the next business day. Missing this initial deadline can trigger penalties, including a failure-to-file penalty of 5% of the unpaid taxes for each month the return is late, capped at 25%. Should show an updated status by February 17 for most early EITC/ACTC filers. The IRS expects most EITC/ACTC related refunds to be available in taxpayer bank accounts or on debit cards by February 27 if they chose direct deposit and there are no other issues with their tax return.

Tax extension deadline 2024

You can jump to FAQs and past tax year schedules in the sections below. The Internal Revenue Service (IRS) announced the start of the tax filing season for 2024 returns will begin on Monday, Jan. 27. The IRS said it expects more than 140 million individual tax returns for tax year 2024 to be filed ahead of the April deadline.

• Also, April 15 is the deadline to request an extension for filing tax returns.
• In 2026, there are specific dates and guidelines to keep in mind to ensure a smooth tax filing experience.
• If you need more time, you can request a tax extension, which grants additional time to file your return but does not extend the time to pay any taxes owed.
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• Most software companies accept electronic submissions and then hold them until the IRS is ready to begin processing later this month.

IRS Opens 2020 Filing Season for Individual Filers on Jan. 27, 2020

However, requesting an extension allows you to submit the paperwork by October 2024 but not to delay any tax payments due. The Internal Revenue Service (IRS) typically starts accepting tax returns in late January, and for the 2025 tax season, the opening date is expected to follow this trend. The IRS announces the exact date in early January, so check the IRS website for updates. Historically, filing season opens around January 22–29, giving taxpayers the green light to file their returns and kickstart the federal tax return process. When anticipating tax refunds, the IRS typically processes refunds for electronically filed returns within 21 days, especially for those opting for direct deposit and without any complications in their returns. The official start of tax season is January 29, 2024, when the IRS begins accepting and processing 2023 tax returns.

Accounting solutions

While a majority of states adhere to the federal government’s timetable, some have their own deadlines, too. Plus, there are several regions that have tax extensions due to hurricanes, flooding, fires and other natural disasters. Here are the key dates you need to know to get you through this tax filing season. Taxpayers can check the status of their refunds using the IRS tool Where’s My Refund? 24 hours after filing their tax returns online, or four weeks after filing paper returns.

How can I ensure my taxes are filed on the first day?

WASHINGTON — The Internal Revenue Service today announced Monday, Jan. 29, 2024, as the official start date of the nation’s 2024 tax season when the agency will begin accepting and processing 2023 tax returns. Missing the April 15 deadline can lead to penalties unless an extension is filed. However, remember that an extension only applies to filing paperwork; any taxes owed are still due on April 15.

How to Securely and Effectively Outsource During Tax Season

• Filers who purchased an electric vehicle in 2024 can claim up to a $7,500 credit for new cars and $4,000 for used vehicle purchases.
• Once you’re satisfied with your return, submit it electronically through the software.
• Be aware of scammers, who can become more active during tax season.
• The IRS expects most EITC/ACTC related refunds to be available in taxpayer bank accounts or on debit cards by February 27 if they chose direct deposit and there are no other issues with their tax return.
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• Errors on your individual income tax return—even small ones—can delay processing or flag your return for review.

People should report all their taxable income and wait to file tax filing until they receive all income related documents. This is especially important for people who may receive various Forms 1099 from banks or other payers reporting unemployment compensation, dividends, pensions, annuities or retirement plan distributions. If a taxpayer receives Forms 1099-K, they should visit What to do with Form 1099-K to help them determine if that money should be reported as income on their federal tax return.

It’s crucial to convey to clients that while an extension grants additional time for filing the paperwork, it does not postpone the due date for any tax payments owed. Although the IRS official tax filing season begins later this month, IRS Free File providers will allow taxpayers to prepare and file returns now and hold them until they can be electronically filed on that date. The official deadline for filing your federal income tax returns is April 15, 2025. However, if Tax Day falls on a weekend Bookkeeping vs. Accounting or holiday, the due date moves to the next business day.

Free File program now open; Direct File available starting Jan. 27 for taxpayers in 25 states

The U.S. government requires the fundamental act of filing income taxes. This is largely because taxes fund several services and programs throughout the federal, state and local levels. Thousands of people have lost millions of dollars and their personal information to tax scams. Scammers use the regular mail, telephone and email to set up individuals, businesses, payroll and tax professionals.