The IRS has announced that Jan. 27 will be the first day it will start accepting and processing 2024 income tax returns.
As millions of Americans begin preparing to file, here are some things that are new this year and what to keep in mind.
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This tax season, the IRS expects more than 140 million individual tax returns to be filed ahead of the April 15 federal deadline.
Lisa Greene-Lewis, a CPA and tax expert with TurboTax, advises taxpayers to gather the necessary documents before getting started.
“Gather your W-2s, 1099s that report your income, and then also those receipts for anything that’s deductible,” Greene-Lewis says.
Although the official deadline to file your return is in April, millions of Americans may have different filing deadlines if they live or do business in a federally declared disaster area.
For instance, the IRS announced that Southern California wildfire victims now have until Oct. 15 to file federal individual or business tax returns and make tax payments.
Similarly, due to the devastation caused by hurricanes Helene and Milton, taxpayers in Alabama, Florida, Georgia, North Carolina, South Carolina, and parts of Tennessee and Virginia have until May 1 to file their returns and pay any tax due.
“I would just keep in mind, if you were impacted, that you could claim the casualty on your 2024 taxes,” Greene-Lewis added.
The IRS also says its pilot Direct File program will now be open in 25 states, up from 12 last year when it launched. For those eligible, it will allow people to file their taxes directly with the IRS for free.