The IRS announced on Friday that the 2024 tax season will officially begin on Monday, January 27, allowing taxpayers to start filing their tax returns.
In addition to this, the agency will launch its free Direct File service, available to residents in 25 states starting the same day.
With approximately 140 million returns expected to be filed by the April 15 deadline, the IRS anticipates that many taxpayers will receive refunds. Last year, around two-thirds of filers received refunds, with the average check totaling about $3,100, according to IRS data.
When can I begin filing my taxes?
Taxpayers can start submitting their returns on January 27. However, the IRS made its Free File service available on January 10. This program, offered in partnership with tax software companies, is for taxpayers with an adjusted gross income of $84,000 or less in 2024.
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How soon will I receive my tax refund?
Tax refunds are often a major financial event for many Americans, who use them for things like paying off debt, saving, or making large purchases. According to the IRS, most refunds are processed within 21 calendar days. This means someone who files their tax return on January 27 could receive their refund as early as February 17, assuming everything goes smoothly.
Taxpayers who file electronically can check the status of their 2024 refund 24 hours after submission using the IRS’ “Where’s My Refund?” tool. Those who file on paper can expect their refund status to appear on the app about four weeks later.
