When to Start Filing Taxes for the 2024 Tax Year

## Understanding the Tax Filing Season The IRS has officially announced that the 2024 tax filing season will begin on January 29, 2024, marking the first day the agency will start accepting and processing 2023 tax year returns. Filing taxes can be a daunting task, but understanding when to start and what steps to take can make the process smoother. ## Key Filing Deadlines - **April 15, 2024**: The standard deadline for most taxpayers - **April 17, 2024**: Deadline for residents of Maine and Massachusetts (due to Patriots' Day and Emancipation Day) - **October 15, 2024**: Deadline if you file for an extension *Note: An extension of time to file is not an extension of time to pay any taxes owed.* ## Benefits of Filing Early ### Faster Refunds Filing early typically means receiving your refund sooner. The IRS aims to issue most refunds within 21 days of accepting your return, particularly if you: - File electronically - Choose direct deposit - Have no errors in your return ### Identity Theft Protection Filing early reduces the risk of tax-related identity theft, as criminals cannot file a fraudulent return using your Social Security number if you've already submitted your legitimate return. ## Preparing to File Your Taxes Before you can file your taxes, gather these essential documents: 1. **Personal Information** - Social Security numbers for yourself, spouse, and dependents - Previous year's tax return 2. **Income Documents** - W-2 forms from employers - 1099 forms for contract work - Interest statements (1099-INT) - Dividend statements (1099-DIV) 3. **Deductions and Credits** - Mortgage interest statements - Medical expense receipts - Charitable donation receipts - Investment income documentation ## Filing Options ### Electronic Filing The IRS strongly encourages electronic filing through: - [IRS Free File](https://www.irs.gov/filing/irs-free-file-do-your-taxes-for-free) (for those with AGI ≤ $73,000) - Commercial tax software like [TurboTax](https://turbotax.intuit.com/) and [H&R Block](https://www.hrblock.com/) - Professional tax preparers ### Paper Filing While possible, paper filing typically results in: - Longer processing times - Higher error rates - Delayed refunds ## Professional Help Consider seeking professional assistance if you: - Have a complex tax situation - Experienced major life changes in 2023 - Started a business - Bought or sold property You can find qualified professionals through the [AICPA Directory](https://www.aicpa-cima.com/) or [IRS Directory of Federal Tax Return Preparers](https://irs.treasury.gov/rpo/rpo.jsf). > "The earlier you file, the better position you'll be in to address any potential issues with your return." - IRS Commissioner Danny Werfel --- Remember that regardless of when you file, accuracy is more important than speed. Take time to review your return thoroughly and maintain copies of all supporting documentation for at least three years after filing. For more detailed information and updates, always refer to the [official IRS website](https://www.irs.gov/).

When to Start Filing Taxes for the 2024 Tax Year

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