When Does Tax Season Start? Key Dates to Know

Understanding Tax Season

Tax season is a critical period for individuals and businesses to file their tax returns with the Internal Revenue Service (IRS). Knowing the key dates can help you avoid last-minute stress and ensure compliance with tax regulations.

Official Start Date and Key Deadlines

Start of Tax Season

For the 2024 filing season (2023 tax year), the IRS will start accepting and processing tax returns on January 29, 2024. This date can vary slightly each year, so it's important to check the IRS website for the most current information.

Important Filing Deadlines

• April 15, 2024: Standard tax filing deadline for most taxpayers
• April 17, 2024: Deadline for residents of Massachusetts and Maine (due to state holidays)
• October 15, 2024: Extension deadline (must file Form 4868)

Document Due Dates

• W-2 Forms: January 31, 2024
• 1099-MISC/NEC Forms: January 31, 2024
• 1099-B, 1099-DIV, and 1099-INT Forms: February 15, 2024
• 1099-K Forms: January 31, 2024

Estimated Tax Payment Deadlines

For self-employed individuals or those with income not subject to withholding:

• April 15
• June 15
• September 15
• January 15 of the following year

Preparing for Tax Season

Gather Your Documents

Start collecting important documents early:

1. Income statements (W-2s and 1099s)
2. Receipts for deductible expenses
3. Mortgage interest statements
4. Investment income statements
5. Social Security numbers for dependents
6. Previous year's tax return

Stay Organized

Create a tax folder system:

📁 Tax Documents 2023
    └── 📁 Income Documents
    └── 📁 Deduction Records
    └── 📁 Investment Statements
    └── 📁 Business Expenses

Electronic Filing Benefits

Filing electronically through the IRS Free File or other approved e-file providers offers several advantages:

• Faster processing
• Quicker refunds
• Lower error rates
• Immediate confirmation
• Secure transmission

Refund Timeline

Expected refund processing times:

• E-filed returns with direct deposit: 1-3 weeks
• Paper-filed returns: 6-8 weeks
• Returns claiming EITC or ACTC: Not before mid-February

You can check your refund status using the Where's My Refund? tool approximately 24 hours after e-filing.

"The early bird catches the worm, but the prepared taxpayer catches the refund."

Professional Assistance

Consider seeking professional help if:

• Your tax situation is complex
• You've had major life changes
• You're unsure about new tax laws
• You own a business

Final Tips

Keep Records

Maintain copies of your tax returns and supporting documents for at least three years after filing or two years after paying the tax, whichever is later.

State Tax Considerations

State tax deadlines may differ from federal deadlines. Check with your state's department of revenue for specific dates and requirements.

For more detailed information, always refer to the official IRS guidelines.