Every Tax Deadline You Need To Know

This time, the delay is for 2023 federal tax returns, confusing payment networks and casual online sellers. The deadline for most taxpayers to file federal and state income taxes is April 15, 2024. If you are expecting to receive a refund and file electronically, your money should arrive within 21 days. The Internal Revenue Service says that almost all individual taxpayers, regardless of income, can now file their federal tax returns electronically free of charge using the IRS.gov website or the IRS2Go app. The IRS has announced that the 2024 tax season officially kicks off on Monday, January 29, which is when it will start processing and accepting 2023 tax returns. The agency expects more than 128 million individual tax returns will be filed before the tax due date.

For example, most software companies accept electronic submissions and then hold them until the IRS is ready to begin processing later this month. IRS Free File will also be available on IRS.gov starting Jan. 12 in advance of the filing season opening. The IRS Direct File pilot will be rolled out in phases as final testing is completed and is expected to be widely available in mid-March to eligible taxpayers in the participating states. IRS Free File allows people with income within a specific limit to file their federal income tax returns for free. The program connects taxpayers with the agency’s trusted tax prep partners, which differs from the new Direct File pilot program mentioned below. You can use Free File this year if your adjusted gross income (AGI) is $79,000 or less.

When does tax filing season begin?

The IRS says more than 9 out of every 10 refunds are issued within three weeks of the day the return is filed. The best place to track where things stand is with the Where’s My Refund? The IRS launched the Direct File pilot for the 2024 filing season. The Inflation Reduction Act mandated that the IRS study interest in and feasibility of creating tax season a direct e-filing tool taxpayers could use to prepare and file their federal income tax return. The IRS commissioned an independent study, which indicated broad interest in such a system, which the IRS detailed in a Direct File Report to Congress in May 2023. The IRS has delayed the so-called $600 rule for 1099-K reporting again.

• When you miss a tax filing deadline and owe money to the IRS, you should file your tax return as soon as possible.
• Finally, widows and widowers under the age of 65 who make over $25,100 will need to file a return.
• And the IRS has already warned taxpayers that refunds are likely to be smaller—with some people who expect to get money back ending up owing the government instead.
• As always, be sure that you have all the information you need before you file.
• We do not include the universe of companies or financial offers that may be available to you.
• If you’re not covered by an employer-sponsored plan at work but your spouse is, you’ll need to file jointly to get the deduction.

Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range, can also impact how and where products appear on this site. While we strive to provide a wide range of offers, Bankrate does not include information about every financial or credit product or service. Bankrate follows a strict
editorial policy, so you can trust that our content is honest and accurate. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. Answer simple questions and TurboTax Free Edition takes care of the rest. The average tax refund in 2022 (for the 2021 tax year) was roughly $3,200—14% higher than the year before, according to tax officials.

Understanding Tax Season

Once taxpayers start their return on the Direct File site, they can pause and then securely sign in to finish any time before the April filing deadline. Generally the deadline to claim old refunds falls around the April 15 tax deadline, but this year the three-year window for 2020 unfiled returns was postponed to May 17, because of the COVID-19 pandemic. But if taxpayers haven’t filed a return for tax year 2021 and 2022, any 2020 refunds would be withheld until they file for those years as well to make sure they don’t owe. Your tax rate may be higher as an individual than it would be on a joint return and there are a number of tax credits you won’t be able to claim.