When Can I File My Taxes For 2024? Everything you need to know about it!

The deadline for submitting your 2023 is midnight on Monday, April 15, 2024. People who live in areas affected by natural disasters may also experience missed deadlines. 

When Can I File My Taxes For 2024?

When Can I File My Taxes for 2024? April 15, 2024, is the scheduled start date of the 2024 filing season. On this day, taxpayers may begin filing their taxes. To prevent any problems at the last minute, planning beforehand is very important.

The government plans to include filers claiming the earned income tax credit, child tax credit, and credit for extra dependents in addition to the standard deduction, tax break for educator expenses, and student loan interest deduction.

Those who submit Form Schedule C, which details company earnings or losses, and those who claim the premium tax credit to lower the cost of health insurance acquired via the health insurance marketplace are not eligible. Neither are self-employed individuals or contract workers.

Speed refunds with direct deposit File My Taxes

The fastest and safest option to obtain a tax refund is via direct deposit. You’ll need your bank’s routing number and account number to get your tax refund by direct deposit, reloadable debit card, or mobile banking app

Taxpayers should get in touch with their bank, financial institution, or app provider if they are unable to identify the routing and account number.

Compared to taxpayers utilizing direct deposit, those who request a paper check are much more likely to claim a problem receiving their refund due to non-receipt, forgery, theft, or checks returned to the wrong address.

When Can I File My Taxes For 2024?

Who is Eligible for IRS Direct File in 2024

“The pilot will launch in phases to ensure a good experience for taxpayers,” said Laurel Blatchford, the U.S. Department of the Treasury’s lead implementation officer for the Inflation Reduction Act.

Not all taxpayers will be eligible for the experiment, which will concentrate on individual filers with “relatively simple returns” for 2024. 

The IRS anticipates that the program will cover Form W-2 wages, Social Security income, unemployment benefits, and interest of no more than $1,500.

What’s the Fastest way to file my tax return?

The most accurate and efficient way to file your tax return is electronically.

It is more secure to file electronically rather than on paper with the IRS. You don’t have to be concerned about your tax return being lost in the mail or arriving late since it is electronically submitted to the IRS. 

Additionally, you will get immediate confirmation that the IRS has received and is processing your return.

The quickest method to get your money back from taxes is to have it instantly transferred into your bank account. The IRS routinely distributes 90% of refunds in less than 21 days to those who file online and utilize direct deposit.

What if I Made a mistake and need to re-file my Taxes?

Mistakes happen. After filing your taxes, you discover that you have unreported some income or failed to claim certain tax credits. You often don’t need to redo your whole return. 

You must file an amendment using Form 1040-X and include copies of any schedules and/or forms you are updating or omitting from your initial return.

The two-page IRS Form 1040-X is used to make changes to a tax return that has already been submitted. You may make corrections to your tax return by using TurboTax’s amendment procedure walkthrough.

Make sure you only submit Form 1040-X after your first Form 1040 has been approved to prevent delays. 

You have three years from the day you promptly filed your first return, or two years from the date you paid the tax, whichever comes first, to request a tax credit or refund from a previous year, using Form 1040-X.

What is the last day to file taxes?

Generally, April 15 is the deadline for filing individual federal income tax returns, unless it occurs on a Saturday, Sunday, or recognized holiday. The tax deadline may be extended by one day due to certain state-level holidays. 

Form 4868 may be used to obtain a six-month extension. October 15 is the deadline for submitting individual income taxes, or the next business day if it falls on a weekend or holiday.

The deadline for filing taxes for small businesses that are also partnerships or S companies is March 15 for partnerships and April 15 for corporations, unless it occurs on a weekend or a public holiday. 

Your federal tax return is usually due by the fifteenth day of the third month after the end of the company’s fiscal year if your firm operates on a non-calendar tax year.

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