Monday, Jan. 29 is the official start date of the 2024 tax season, the IRS announced, with the agency expecting more than 128.7 million tax returns to be filed by the April 15 tax deadline.
The announcement comes as the agency undergoes a massive overhaul, attempting to improve its technology and customer service processes with tens of billions of dollars allocated to the agency through Democrats’ Inflation Reduction Act, signed into law in August 2022.
“As our transformation efforts take hold, taxpayers will continue to see marked improvement in IRS operations in the upcoming filing season,” said IRS Commissioner Danny Werfel in a news release. “IRS employees are working hard to make sure that new funding is used to help taxpayers by making the process of preparing and filing taxes easier.”
Here are some quick facts to know about filing your returns.
When is the earliest I can file?
According to the announcement, the IRS will start officially accepting and processing tax returns on Jan. 29.
According to the Illinois Department of Revenue, it will also begin accepting and processing tax returns on Jan. 29.
What if I pay quarterly taxes?
Due dates are as follows for those who pay taxes quarterly:
Jan. 1-March 31 pay period: April 15
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April 1-May 31 pay period: June 15
June 1-Aug. 31 pay period: Sept. 15
Sept. 1-Dec. 31 pay period: Jan. 15 of the following year
Can I file my taxes electronically for free?
While the IRS Free File Program allows most Americans to file their federal taxes for free online, there are a variety of services available for those who qualify.
Some individuals could be eligible for full-service tax preparation services through the IRS’ Volunteer Income Tax Assistance program. The AARP Foundation’s Tax-Aide and the Tax Counseling for the Elderly programs also exist.
Eligibility for programs vary, but most Americans are eligible if they make $60,000 or less, have a qualifying disability, have limited English skills, or are 60 years of age or older.
In Illinois, many residents are eligible for free tax filing as well through the MyTax Illinois service. Residents who are filing using an IL-1040 and meet other criteria are eligible, according to officials.
When will you get your refund?
According to the IRS, several factors can impact the timing of a refund after the IRS has received a return. However, most refunds are issued in less than 21 days, the IRS says.
"The IRS cautions taxpayers not to rely on receiving a refund by a certain date, especially when making major purchases or paying bills," the agency says. "Some returns may require additional review and may take longer."
Tracking your refund
You can track your refund using the IRS' "Where's my Refund?" tool.
According to officials, the tool allows taxpayers to see "detailed refund status messages in plain language." As part of improvements this year, the tool will provide taxpayers with "clearer and more detailed updates," including if the IRS is requesting more information.
