When will the IRS accept 2024 returns? Here's when you can start filing your taxes. (2024)

When will the IRS accept 2024 returns? Here's when you can start filing your taxes. (1)

By Aimee Picchi

Edited By Alain Sherter

/ CBS News

At the start of each year, the IRS announces when taxpayers can start filing their annual returns — an eagerly awaited date given that many workers will receive their tax refunds just weeks later.

The IRS saidMonday that it is opening the tax filing season on January 29, which means that taxpayers will have between that date and April 15 to file their returns. People who need extra time can still request an extension, which gives them until mid-October to file.

Taxpayers in Maine and Massachusetts have until April 17 to file their taxes because of those states' Patriot's Day and Emancipation Day holidays. People living infederally declared disaster areasmay also have more time to file.

About 128.7 million individual tax returns are likely to be filed this season, the IRS said on Monday.

How early can I file my tax return?

The IRS said it will start accepting and processing tax returns on Monday, January 29.

However, it added that people can start working on their taxes prior to that, either with a tax professional or software company. Likewise, it will make the IRS Free File program available for tax prep starting on January 12, with participating software companies accepting completed tax returns and holding them until they can be filed on January 29.

When will I get my tax refund?

Most taxpayers get their refunds within 21 days, which means that people who file their taxes on January 29 — the earliest available day to file a return — should get their payments by February 19.

However, that isn't guaranteed, and the IRS cautions that some returns may take more time to review, extending the period beyond 21 days. The IRS said that the best way to check the status of your refund is to visitWhere's My Refund?on IRS.gov or theIRS2Goapp.

However, the quick turnaround on getting a refund applies to people who file electronically. Paper returns can take much longer for the IRS to process, and the tax agency has urged people to e-file.

"To avoid delays in processing, people should avoid filing paper returns whenever possible," the tax agency said on Monday.

When can you start tracking your refund?

You'll be able to track your refund on the Where's My Refund page or IRS2Go app 24 hours after your return was filed electronically.

To use either tool, you'll have to provide a few basic pieces of information: Your Social Security number, filing status (such as single or married filing jointly) plus your exact refund amount.

The IRS on Monday said that it will be updating its Where's My Refund tool to provide more detailed information to taxpayers. Previously, the site typically displayed a "generic message stating that their returns are still being processed and to check back later," the agency said.

The updates will provide taxpayers with more details, such as whether the IRS needs them to respond to a letter asking for more information, the agency added.

Is the IRS offering its own tax filing service this year?

Yes, the IRS is introducing its own filing service this year, called IRS Direct File. It will first be rolled out in phases, but the agency expects it to be widely available in mid-March to taxpayers in 13 participating states. Those states are:

  • Alaska
  • Arizona
  • California
  • Florida
  • Massachusetts
  • New Hampshire
  • New York
  • Nevada
  • South Dakota
  • Tennessee
  • Texas
  • Washington
  • Wyoming

Tax season dates

Here are the important dates for the 2024 tax season.

  • January 12:IRS Free File opens
  • January 16:Due date for 2023 fourth quarter estimated tax payments
  • January 29:Filing season start date for individual tax returns
  • April 15:Due date of filing a tax return or to request an extension for most of the nation
  • April 17:Due date for Maine and Massachusetts
  • October 15:Due date for extension filers

Aimee Picchi

Aimee Picchi is the associate managing editor for CBS MoneyWatch, where she covers business and personal finance. She previously worked at Bloomberg News and has written for national news outlets including USA Today and Consumer Reports.

When will the IRS accept 2024 returns? Here's when you can start filing your taxes. (2024)

FAQs

When will the IRS accept 2024 returns? Here's when you can start filing your taxes.? ›

2024 tax filing season set for January 29; IRS continues to make improvements to help taxpayers | Internal Revenue Service.

Has the IRS started approving refunds in 2024? ›

How to get your refund quickly and easily. Tax season began on Jan. 29, 2024, when the IRS started accepting and processing 2023 tax returns.

How much is the Child Tax Credit for 2024? ›

But keep in mind that the maximum refund for the 2024 tax year is capped at $1,700 per qualifying dependent. If you have three or more dependent children, the math can be more complex. See Schedule 8812 for more details.

What are the new tax changes for 2024? ›

For tax year 2024, the standard deduction for married couples filing jointly rises to $29,200, an increase of $1,500 from 2023. For single taxpayers, the standard deduction rose to $14,600, a $750 increase from the previous year.

What is the EIC credit for 2024? ›

The earned income tax credit is a refundable credit for low- to middle-income workers. For the 2024 tax year, the tax credit ranges from a max of $632 to $7,830, depending on tax filing status, income and number of children. Taxpayers without children can qualify for a lower credit amount.

How early can you file taxes 2024? ›

The 2024 tax season begins on Monday, January 29, 2024, and the deadline to file is Monday, April 15, 2024. I have long advocated for the IRS to offer a direct, free filing option for taxpayers.

Will I get a bigger refund in 2024? ›

So far in 2024, the average federal income tax refund is $2,850, an increase of 3.5% from 2023. It's not entirely unexpected: To adjust for inflation, the IRS raised both the standard deduction and tax brackets by about 7%.

Why am I only getting $500 for Child Tax Credit? ›

It sounds like you may have entered the child as an other dependent rather than a child. Other dependents age 18 or older would qualify for a $500 credit. Make sure the birth date is entered correctly. Go back through the dependent section and make sure you answered all the questions correctly.

Who qualifies for the $500 other dependent credit? ›

This credit can be claimed for: Dependents of any age, including those who are age 18 or older. Dependents who have Social Security numbers or Individual Taxpayer Identification numbers. Dependent parents or other qualifying relatives supported by the taxpayer.

Why is my refund delayed in 2024? ›

This means the IRS experienced a higher volume than normal of electronic payments, which has caused a significant delay in processing payment records for payments received on or after April 18, 2024.

At what age is Social Security no longer taxed? ›

There is no age at which you will no longer be taxed on Social Security payments. So, if those payments when combined with your other forms of income, exceed one of the two thresholds, then you will have to pay at least federal taxes on either 50% or 85% of the benefits you receive.

What disqualifies you from earned income credit? ›

In general, disqualifying income is investment income such as taxable and tax-exempt interest, dividends, child's interest and dividend income reported on the return, child's tax-exempt interest reported on Form 8814, line 1b, net rental and royalty income, net capital gain income, other portfolio income, and net ...

What is the new relief bill for 2024? ›

Introduced in House (02/15/2024) This bill allows a refundable income tax credit for 10% of federal tax liability for a taxable year beginning in 2024.

What day is the IRS releasing EITC refunds in 2024? ›

Most refunds issued in less than 21 days; EITC refunds for many available starting February 27.

How to get $7000 tax refund? ›

Requirements to receive up to $7,000 for the Earned Income Tax Credit refund (EITC)
  1. Have worked and earned income under $63,398.
  2. Have investment income below $11,000 in the tax year 2023.
  3. Have a valid Social Security number by the due date of your 2023 return (including extensions)
Apr 12, 2024

What is the child deduction for 2024? ›

The Child Tax Credit is worth a maximum of $2,000 per qualifying child. Up to $1,500 is refundable.

How long after verifying identity to get refund in 2024? ›

After you verify your identity and tax return information using this service, it may take up to nine weeks to complete the processing of the return. Visit Where's My Refund? or use the IRS2Go mobile app 2-3 weeks after using this service to check your refund status.

How long does it take for the IRS to approve a refund after it is accepted stimulus? ›

Refund Sent

Updates to refund status are made once a day — usually at night. Even with the January 30 opening of the tax season, we expect refunds to be issued within normal timeframes. The IRS issued more than 9 out of 10 refunds to taxpayers in less than 21 days last year.

What day of the week does the IRS deposit refunds? ›

The IRS only issued refunds once per week under the old system. They now issue refunds every business day, Monday through Friday (except holidays). Due to changes in the IRS auditing system, they no longer release a full schedule as they did in previous years.

When can I expect my tax refund? ›

We issue most refunds in less than 21 calendar days. However, if you mailed your return and expect a refund, it could take four weeks or more to process your return.

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