When to File Taxes

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Filing Taxes Early

With changes in tax laws, it's important for taxpayers to stay informed about when to file their taxes in 2024 and what documents they need to prepare.

TRAVERSE CITY, MI, US, January 3, 2024 /EINPresswire.com/ -- Tax season is just around the corner, and taxpayers are already gearing up to file their returns.

Here are the key highlights about when to file taxes for the year 2024.

Taxpayers can start filing their taxes in January 2024. The IRS typically begins accepting tax returns in mid-to-late January, but taxpayers can start preparing their returns as soon as they have all the necessary documentation.

It's important for taxpayers to file their returns as soon as possible to avoid any penalties or delays in receiving their refunds.

Taxpayers will need to gather all relevant tax documents before filing their returns. This includes getting their W-2 forms online or in the mail. Also, 1099 forms for any freelance or contract work and any other income or deduction documentation.

Taxpayers should also keep in mind any changes in tax laws that may affect their tax returns. In 2024, the standard deduction for single filers will be $13,850, and for married couples filing jointly, it will be $27,700.

Taxpayers who are eligible for tax credits should also take note of any changes in 2024. The child tax credit will be $2,000 per child. The earned income tax credit will also increase for taxpayers with three or more children.

Taxpayers should also be aware of any changes in state tax laws that may affect their returns. Some states have different deadlines for filing state taxes, and some states have different tax laws than the federal government. Taxpayers should consult with a tax professional or their state's tax agency for more information.

In conclusion, taxpayers should start preparing for tax season as early as possible. By staying informed about when to file their taxes and what documents they need, they can avoid any penalties or delays in receiving their refunds.

To learn more about when to file taxes in 2024, visit https://filemytaxesonline.org/when-can-file-my-taxes/

Frank Ellis
Harbor Financial
+1 231-480-4086
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