Sen. Mike Crapo (R-Idaho) discusses Mr. Kudlow's tax and tariff proposals under President-elect Donald Trump.
The Internal Revenue Service (IRS) on Friday announced details regarding the start of the 2025 tax filing season, which begins in earnest later this month.
Tax filing season begins on Monday, January 27th for taxpayers filing their 2024 tax returns. The IRS said it expects more than 140 million individual tax returns by Tuesday, the federal filing deadline for 2024 tax returns. , April 15th.
The agency estimates that about half of all returns will be filed with the help of a tax professional, and taxpayers should use a trusted tax professional to avoid potential fraud and schemes. he added.
This tax filing season, new tools will be available to taxpayers in an IRS modernization effort. Improvements include increased access to tax account information from text and voice virtual assistants, expanded functionality for IRS Personal Online Accounts, increased access to dozens of tax forms for mobile phone and tablet users, and more. This includes expanded warnings against scams and schemes targeting taxpayers.
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The IRS has announced that the 2025 tax filing season will begin on January 27 for filing returns for the 2024 tax year. (Michael Bochieri/Getty Images/Getty Images)
The IRS has also expanded its Direct File program since last year, which will be available to taxpayers in 25 states when tax season officially begins later this month, after being used in 12 states as part of a pilot program last year. You will be able to do it.
Direct File is similar to commercial tax software, allowing taxpayers to select a data import tool to automatically import information from their IRS account, such as personal information, the taxpayer's IP PIN, and certain information from W-2 forms. You can import it manually. A new chatbot will also be available to help Direct File users navigate the eligibility checker.
“This is a period of historic improvement for the IRS, and people will see additional tools and features to help them file their taxes this tax season,” said IRS Commissioner Danny Wuerffel. spoke. “The taxpayer-focused improvements we have made to date are important, but they are just the beginning of what the IRS needs to do. With continued investment in the nation's tax system, we can do even more. Sho.”
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The IRS is modernizing technology to help taxpayers. (Photo by J. David Eyck/Getty Images/Getty Images)
The IRS announcement states that most tax refunds are issued within 21 calendar days and that taxpayers can access the “Where's my refund?” With tools on IRS.gov, you can check the status of your 2024 income tax refund within 24 hours of e-filing.
For taxpayers filing paper returns, refund information is generally available four weeks after filing. The 'Where's my refund?' tool updates overnight, so you don't have to check it multiple times a day.
“The easiest, safest, and fastest way to receive a refund is to apply electronically and choose direct deposit. Paper refund checks can be difficult to recover from, such as when the check is lost or misaddressed,” according to the Treasury Department's Bureau of Fiscal Affairs. 16 times more likely to have a problem with stolen or uncashed cash,” the IRS wrote.
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Additionally, taxpayers should check the FDIC and National Credit Union Administration websites if they do not have a bank account, and veterans can use the Veterans Benefits Banking Program to find participating financial institutions. He added that he could.
