First Day to File Taxes for the 2024 Tax Season

## When Tax Season Begins The Internal Revenue Service (IRS) has officially announced that the 2024 tax filing season will begin on Monday, January 29, 2024. This is when the agency will start accepting and processing tax returns for the 2023 tax year. ## Important Deadlines The standard filing deadline for 2023 tax returns is Monday, April 15, 2024, for most taxpayers. However: - Residents of Maine and Massachusetts have until April 17, 2024, due to Patriots' Day and Emancipation Day - Business tax returns (Form 1120) for corporations are due March 15, 2024 - Extended business tax returns must be filed by September 15, 2024 ### Extension Options You can request an automatic six-month extension by filing [Form 4868](https://www.irs.gov//forms-pubs/about-form-4868), extending your deadline to October 15, 2024. > Important: An extension of time to file is NOT an extension of time to pay. Any taxes owed must still be paid by the original deadline to avoid potential penalties and interest. ## Benefits of Filing Early Filing your taxes as soon as possible offers several advantages: * Faster refunds * More time to organize documents * Reduced risk of tax-related identity theft * Better chance of securing appointments with tax professionals * More time for corrections if errors are discovered ## What's New for 2024 Several key changes affect this tax season: 1. Increased standard deduction amounts * Single filers: $13,850 * Married filing jointly: $27,700 * Head of household: $20,800 2. Adjusted tax brackets to account for inflation 3. Modified income thresholds for various credits and deductions ## Preparation Checklist Before filing, ensure you have: - [ ] W-2 forms from employers - [ ] 1099 forms for contract work or investments - [ ] Interest statements (Form 1099-INT) - [ ] Dividend statements (Form 1099-DIV) - [ ] Receipts for deductible expenses - [ ] Social Security numbers for all dependents - [ ] Previous year's tax return - [ ] Bank account information for direct deposit - [ ] Charitable donation receipts ## Filing Options There are several ways to submit your tax return: ``` Electronic Filing Benefits: - Faster processing - Fewer errors - Quick confirmation of receipt - Secure transmission - Faster refunds ``` You can file through: * [IRS Free File](https://www.irs.gov//filing/free-file-do-your-federal-taxes-for-free) * Commercial tax preparation software * Professional tax preparers * Traditional paper filing ## Getting Help If you need assistance, consider these resources: 1. [Taxpayer Advocate Service](https://www.taxpayeradvocate.irs.gov/) 2. [VITA/TCE Programs](https://www.irs.gov//individuals/free-tax-return-preparation-for-qualifying-taxpayers) for free tax preparation 3. IRS Interactive Tax Assistant 4. Professional tax preparers For the fastest refund, the IRS recommends filing electronically and choosing direct deposit. Most taxpayers who follow these guidelines can expect their refund within 21 days of filing, assuming there are no issues with their return. For more detailed information and updates, visit the [IRS website](https://www.irs.gov/) or consult with a tax professional.

First Day to File Taxes for the 2024 Tax Season

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