The Internal Revenue Service (IRS) has formally announced that the 2024 tax filing season has begun, meaning that people should now begin reporting their 2023 earnings. While employers, banks, and income reporting agencies have until January 31 to give required tax paperwork to individuals, taxpayers are encouraged to start the filing process on January 29. There is an increasing trend toward online document delivery.
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Key Dates and Overview
The IRS has set April 15, 2024, as the deadline for the majority of taxpayers to file their federal tax returns or request an extension, with an estimated 128 million individual tax returns anticipated. The deadline for Massachusetts state tax returns is April 17, 2024. For taxpayers, this is a crucial time to make sure that tax obligations are filed, paid, and followed on time.
Early filing has benefits, such as expedited refunds and a lower chance of identity theft. In order to minimize delays and streamline the tax filing procedure, taxpayers are advised to make thorough plans that will maximize their financial results.
The IRS website, IRS.gov, offers a wealth of resources to help expedite the process. These include details on tax preparation, updates on tax legislation, free tax preparation tools, and options to view previous tax records, make payments, and verify the status of federal withholding and refunds.
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Resources for Informed Tax Filings
The extensive website of the Massachusetts Department of Revenue provides vital details about state income tax returns, electronic filing, payment processing, and other relevant tax filing matters. In order to ensure that tax rules and regulations are followed, taxpayers are urged to use these tools to make well-informed judgments.
Through the use of the advice and resources offered on these platforms, taxpayers may take charge of their own tax filing process, making wise financial decisions and maximizing their possible returns. These tools are designed to make tax filing easier while encouraging fiscal prudence and following legal obligations.
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