IRS Tax Day 2024, Refund Filing Start Date & Return Status

Tax Day is an important date for taxpayers in the United States. It is the deadline for filing federal income tax returns with the IRS. Tax Day is observed on Monday, April 15, in 2024.

IRS Tax Day

The IRS Tax Day for 2024 is Monday, April 15th. This is the official deadline for filing federal income tax returns with the Internal Revenue Service. 

If you are unable to file your tax return by this date, you can request an extension until October 15th, but you must estimate and pay any taxes owed by April 15th to avoid penalties and interest. 

IRS Tax Dates

The dates to file your tax return are as follows:

  • January 29, 2024: The official start date of the 2024 tax filing season. The IRS will begin receiving and processing tax returns for the year 2023.
  • April 15, 2024 (April 17 for Maine and Massachusetts residents): The deadline to file your 2023 tax return and pay any taxes owed.
  • October 15, 2024: If you file an extension, this is the new deadline to file your 2023 tax return and pay any taxes owed.

Filing Your Return for IRS Tax Day 2024

Gather your documents:

  • It includes your W-2s, 1099s, receipts for deductions and credits, retirement account statements,Healthcare expense records, Education expense documents, Donation receipts, Property tax records, Mortgage interest statements, Child Care expense documentation, Home office expense records, Travel and meal expense logs (for self-employed individuals).

Choose your filing method:

  • Electronic filing:
    • Fastest and most accurate.
    • Use IRS Free File if eligible (income ≤ $79,000) or paid software.
    • E-file directly with the IRS through their new Direct File pilot starting mid-March.
  • Paper filing:
    • Use Form 1040 and relevant schedules.
    • Download forms from the IRS website or request mailed copies.
    • Ensure proper signatures and attachments.

Prepare your return:

IRS Tax Day

  • Follow instructions for your chosen form and software.
  • Report all income sources accurately.
  • Claim eligible deductions and credits.

Review and submit your return:

  • Review your return carefully before submitting.
  • Use e-file for faster processing and refund (if applicable).
  • If paper filing, mail your return with required documents by April 15th.

Pay any taxes owed:

  • Include payment with your paper return.
  • Pay electronically through secure IRS channels.
  • Estimate and pay quarterly taxes if self-employed.
  • Extension: File Form 4868 by April 15th to gain six months, but pay any owed taxes by then.

IRS Tax Day Extension

Key points about extensions:

  • Automatic six-month extension: You can get this by filing Form 4868 by April 15th.
  • Extension does not apply to tax payments: You must still pay any taxes owed by April 15th to avoid penalties.
  • Extension for disaster areas: You may qualify for an extension if you live in a federally declared disaster area.

How to request an extension:

  • Applying for an extension: File Form 4868 electronically or by mail.
  • Pay any taxes owed by April 15th.

IRS Tax Refund

  • Faster refunds with e-filing: Expect refunds within 21 days if you file electronically and choose direct deposit.
  • Slower refunds with paper returns:Paper returns can take up to 6 weeks to process and issue refunds.
  • Track your refund status: Use the IRS “Where’s My Refund?” tool online or through their mobile app.
  • Refund timing for EITC/ACTC: Refunds involving the Earned Income Tax Credit or Additional Child Tax Credit may be delayed until mid-February due to law.
  • Direct deposit for faster refunds: Choose direct deposit to receive your refund quickly and securely.

What are the consequences of missing the tax filing deadline?

If you miss the tax filing deadline, the consequences can include the following:

  • Failure-to-File Penalty: The IRS may charge a failure-to-file penalty, which is 5% of the unpaid taxes for each month or part of a month that a tax return is late. The penalty won’t exceed 25% of your unpaid taxes.
  • Interest and Additional Penalties: In addition to the failure-to-file penalty, you may be responsible for paying interest on the unpaid taxes and other additional penalties.
  • Loss of Refund: If you are due a tax refund, you won’t face penalties or interest for filing late. However, if you don’t file within three years of the deadline, you can lose your tax refund.
  • Late Payment Penalty: If you owe taxes and don’t pay by the deadline, you may face a late payment penalty of 0.5% per month, or fraction thereof, until the tax is paid, with a maximum penalty of 25% of the amount due.

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