when does tax season start ?
- Listed: 26 June 2024 0 h 03 min
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when does tax season start ?
### When Does Tax Season Start?
#### Understanding the Start and Deadline for Tax Filings
Tax season is an annual event where taxpayers prepare and file their tax returns to the government. Knowing when tax season begins and understanding its deadlines is crucial for ensuring timely compliance and potential receipt of refunds. Below are some key points and additional resources to help navigate tax season effectively.
**2023 Taxes:**
For the 2023 tax year, the IRS will officially begin accepting and processing 2022 federal income tax returns as early as **January 23, 2023**. This start date is set to allow the IRS sufficient time to perform essential programming and testing to ensure smooth processing and timely refunds. The filing deadline for the majority of taxpayers is **April 18, 2023**. Individuals residing in Maine and Massachusetts have an extended deadline of **April 19, 2023**.
**2024 Taxes:**
The start date for filing the 2024 tax year returns was set to **January 29, 2024**. This year, to accommodate both taxpayers and tax professionals, the IRS has recruited additional staff and enhanced phone services to ensure efficient processing and timely refunds.
#### What to Keep in Mind:
– **Filing Early:** Many experts recommend filing for taxes as soon as possible after the start of the tax season. This can help speed up the refund process and avoid potential penalties for late filing.
– **Gathering Necessary Documents:** Before filing, ensure you have all necessary documentation. This typically includes W-2s, 1099 forms, and banking details.
– **Required Minimum Distributions:** For individuals aged 73 and older, the deadline to take required minimum distributions (RMDs) from retirement accounts is **December 31,2024**.
#### Key Dates, Deadlines, Extensions, and Tips:
For a comprehensive understanding of tax season deadlines and expectations, you can refer to the IRS’s Tax Time Guide 2023, available at [IRS Tax Time Guide 2023](https://www.irs.gov/newsroom/tax-time-guide-2023). This guide provides detailed information on how to check refund status, avoid penalties and interest, and ensure all income is correctly reported.
**Extended Filings:**
Taxpayers who need more time to gather their financial documents or finalize their taxes can request an extension. The extension form, known as Form 4868, delays the due date for filing but not the due date for paying any tax owed. The extension deadline is **October 15, 2024**, for this year’s returns.
#### Additional Resources:
– **TurboTax:** Provides helpful tips and information on tax deadlines and how to file taxes on their website [TurboTax Tax Deadlines](https://turbotax.intuit.com/tax-tips/tax-planning-and-checklists/important-tax-deadlines-dates/L7Rn92V1d/).
– **Investopedia:** Offers a detailed explanation of when tax season starts and ends along with useful tips for taxpayers [Investopedia Tax Season](https://www.investopedia.com/terms/t/tax-season.asp).
– **USA TODAY:** A reliable source for breaking news and articles on tax season, including when taxes are due, and how to file [USA TODAY Tax Season](https://www.usatoday.com/story/money/2024/01/07/tax-season-2024-when-are-taxes-due-when-will-i-get-my-refund/72057003007/).
Stay informed and prepared to avoid any last-minute stress. Whether you’ve been a veteran filer or are just getting started, the IRS and numerous other resources are here to help make the process as smooth as possible.
**References:**
– [January 24, 2022: 2022 Tax Filing Season Begins](https://www.irs.gov/newsroom/2022-tax-filing-season-begins-jan-24-irs-outlines-refund-timing-and-what-to-expect-in-advance-of-april-18-tax-deadline)
– [January 23, 2023: Official Start of 2023 Tax Filing Season](https://www.irs.gov/newsroom/irs-sets-january-23-as-official-start-to-2023-tax-filing-season-more-help-available-for-taxpayers-this-year)
– [January 29, 2024: Tax Season Begins](https://www.forbes.com/advisor/taxes/tax-season-open-file-taxes-early/)
– [January 12, 2023: Tax Filing Season Kicks Off Early](https://www.cnn.com/2023/01/12/success/day-tax-filing-season-starts/index.html)
Start organizing your documents early, file your return on time, and take advantage of all available resources to make the process as stress-free as possible.
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Stay tuned for more insights and updates in the run-up to this year’s tax season!
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Feel free to comment with any questions or additional resources you find helpful. Happy filing!
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