When Does Tax Season Start in 2024?

## Understanding Tax Season and Key Dates Tax season is a critical period for individuals and businesses to file their tax returns with the Internal Revenue Service (IRS). The IRS has announced that tax season will officially begin on **January 29, 2024**, when they will start accepting and processing 2023 tax returns. ### Important Deadlines - **Standard Filing Deadline**: April 15, 2024 (April 17 for Maine and Massachusetts residents) - **Extension Deadline**: October 15, 2024 - **W-2 Distribution**: January 31, 2024 (deadline for employers) - **Business Deadlines**: - March 15, 2024: Partnerships (Form 1065) and S corporations (Form 1120S) - April 15, 2024: C corporations (Form 1120), varying by fiscal year-end > "For tax year 2023, many tax benefits increased due to inflation adjustments, including the standard deduction and tax bracket thresholds." - IRS Statement ## Preparing for Tax Season ### Required Documentation - **W-2 Forms**: Provided by employers, detailing income and taxes withheld - **1099 Forms**: For independent contractors or additional income sources - **1098 Forms**: For mortgage interest - **Interest and Dividend Statements**: From banks or investment accounts - **Receipts for Deductions**: Charitable contributions, medical expenses, business expenses ### Filing Methods 1. [IRS Free File](https://www.irs.gov/filing/irs-free-file-do-your-taxes-for-free) (income below $73,000) 2. Commercial tax preparation software 3. Professional tax preparers 4. IRS Direct File (pilot program for 2024) 5. Paper filing (traditional method) ## New Changes for 2024 ### Standard Deduction Increases * Single filers: $13,850 * Married filing jointly: $27,700 * Head of household: $20,800 ## Tips for Efficient Filing ### Benefits of Filing Early * Faster refunds * Reduced risk of tax identity theft * More time to address issues * Better access to tax professionals ### Refund Timeline - Electronic returns with direct deposit: 21 days - Paper returns: 6-8 weeks ## Special Considerations ### Natural Disaster Victims Taxpayers in federally declared disaster areas may have extended deadlines. Visit the [IRS disaster relief page](https://www.irs.gov/newsroom/tax-relief-in-disaster-situations) for more information. ### State Tax Returns State tax deadlines may differ from federal deadlines. Check with your state's tax authority for specific requirements. ## Important Resources For detailed information and updates, visit: - [IRS website](https://www.irs.gov/) - [Taxpayer Advocate Service](https://www.taxpayeradvocate.irs.gov/) Consider seeking professional help if you: * Have complex investments * Own a business * Experienced major life changes * Need tax planning advice Remember that while an extension provides more time to file, it does not extend the time to pay taxes owed. Any taxes due must still be paid by April 15, 2024, to avoid interest and penalties.

When Does Tax Season Start in 2024?

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