Taxpayers can begin submitting their 2024 tax returns beginning this week, with those affected by disasters potentially having more time to file, according to the U.S. Internal Revenue Service (IRS).
In the early morning on Monday, the IRS received “millions of tax returns from across the nation for processing.”
“The IRS expects more than 140 million individual tax returns for tax year 2024 to be filed ahead of the Tuesday, April 15 federal deadline,” the agency stated.
“Based on input, it can determine a taxpayer’s filing status, if a person should file a tax return, if someone can be claimed as a dependent, if a type of income is taxable, if a filer is eligible to claim a credit, or if an expense can be deducted,” the agency said.
The IRS outlined multiple options available this year. The Free File offers free tax filing for people with incomes of $84,000 or less last year, while Direct File has been expanded to 25 states this tax season.
Free File is provided by the agency in partnership with tax service providers and Direct File is offered by the IRS directly.
The Volunteer Income Tax Assistance is a free filing option for people with disabilities, taxpayers with incomes less than $67,000, and those whose preferred language is not English. Qualified individuals receive free basic income tax return preparation together with electronic filing from volunteers certified by the IRS.
Taxpayers aged 60 and above can use the Tax Counseling for the Elderly program, which specializes in issues like retirement and pensions that are unique to this age group.
As for refunds, the IRS says taxpayers should not expect Earned Income Tax Credit (EITC) and Additional Child Tax Credit (ACTC) refunds before mid-February.
‘Ghost Preparers,’ IRS Hiring Freeze
The federal agency advises taxpayers who need help to “use a trusted tax pro to avoid potential scams and schemes.”“These preparers can charge a large percentage fee of the refund or even steal the entire tax refund. After the tax return is prepared, these ‘ghost preparers’ can simply disappear, leaving well-meaning taxpayers to deal with the consequences,” the IRS said.
“Ensure you use a preparer with a PTIN [preparer tax identification number]. Paid tax return preparers must have a PTIN to prepare all or substantially all of a tax return,” the IRS said. “Use a reputable tax professional who enters his or her PTIN on the tax return, signs the tax return, and provides you a copy of the return.”
“They hired—were trying to hire 88,000 new workers to go with you, and we’re in the process of developing a plan to either terminate all of them or maybe we move them to the border,” he said during a speech in Nevada.
Instead of these taxes, the bill would institute a single national consumption tax.