When will the IRS start accepting returns for the 2024 tax season? This is a question that many taxpayers are eagerly anticipating as the new year approaches. The Internal Revenue Service (IRS) has a specific timeline for when they begin processing tax returns each year, and understanding this timeline can help taxpayers plan accordingly.
The IRS typically starts accepting tax returns in early February each year. However, the exact date can vary depending on several factors, including the need for system updates and any unforeseen circumstances. For the 2024 tax season, the IRS has announced that they will begin accepting tax returns on January 23, 2024.
This date is earlier than the typical start date, which is usually around February 12. The early start date for the 2024 tax season is due to the IRS’s efforts to streamline the filing process and provide taxpayers with more time to file their returns. It is also in line with the IRS’s goal of reducing the backlog of unprocessed returns.
It is important to note that while the IRS will begin accepting returns on January 23, 2024, not all taxpayers will be able to file their returns on that day. Taxpayers who are claiming certain tax credits, such as the Earned Income Tax Credit (EITC) or the Additional Child Tax Credit (ACTC), may have to wait until February 28, 2024, to file their returns. This delay is due to the need for additional review and verification of these credits.
Understanding the IRS’s timeline for accepting tax returns can help taxpayers plan their filing strategies. By knowing when the IRS will begin accepting returns, taxpayers can ensure that they have all the necessary documents and information ready to file their returns as soon as possible. This can help taxpayers avoid the stress of filing their returns at the last minute and potentially reduce the risk of errors.
In conclusion, the IRS will start accepting tax returns for the 2024 tax season on January 23, 2024. While this date is earlier than in previous years, taxpayers should be aware that some may have to wait until February 28, 2024, to file their returns if they are claiming certain tax credits. By staying informed about the IRS’s timeline, taxpayers can plan their filing strategies and ensure a smooth tax filing process.
