Quick answers to tax season: When is tax day 2024? Where's my refund? How to file for free

John Tufts, Indianapolis Star
·5 min read

The IRS will begin accepting tax returns beginning Monday, and if you're in a lower tax bracket this year, you're probably going to see a bigger refund check. But should you file early, or wait until later? Here's what we know.

When does tax season start in 2024?

Monday, Jan. 29, 2024, is the earliest date the Internal Revenue Service will begin accepting and processing 2023 tax returns. You don't have to wait to submit your documents, however. Many tax preparation companies will take electronic submissions, then file them to the IRS when it's time.

When is the deadline to file taxes in 2024?

April 15, 2024, is the filing deadline for taxes. That's on a Monday this year.

What happens if I miss the tax deadline?

If you fail to file your federal tax return on time, the standard penalty is a whopping 5% of any tax due for every month the return is late, up to 25% of the unpaid balance. If you file a return but fail to pay any taxes you owe, or if you get an extension, you typically face a much smaller monthly penalty of 0.5% of any unpaid amount.

Can I request more time from the April 15 deadline to file taxes?

Yes; if you request an extension, you'll have until Oct. 15 to file your return. That doesn't buy you more time to pay your taxes, however. You'll still have to pay any amount due to avoid penalties, but you'll have more time to complete your tax forms.

The filing deadline for most 2023 federal income tax returns is April 15, 2024.
The filing deadline for most 2023 federal income tax returns is April 15, 2024.

How long does it take to get my tax refund?

The IRS issues most refunds within 21 days. It could take longer, however, if you send your tax return by mail.

Where's my tax refund?

Visit the IRS online at Where's My Refund? (irs.gov/refunds) or at IRS2Go mobile app to get the latest details about your current tax return and refund, as well as information about your taxes from 2022 or 2021. Here's when you can begin checking:

  • 24 hours after e-filing a tax year 2023 return.

  • Three or four days after e-filing a tax year 2021 or 2022 return.

  • Four weeks after mailing a paper return.

Did my tax bracket change in 2024?

Your tax bracket might've changed this year after the IRS adjusted its numbers for inflation. This is done annually to prevent "bracket creep," or when taxpayers are pushed into a higher bracket without any real change to their income or buying power due to inflation.

This year the IRS gave a 5.4% nudge to taxpayer income to reach each new bracket.

The IRS will up the income thresholds for each tax bracket starting in 2024.
The IRS will up the income thresholds for each tax bracket starting in 2024.

What's my tax bracket in 2024?

There are seven federal income tax rates as set by the 2017 Tax Cuts and Job Act. Your tax bracket is determined by how much money you earn — the more income you make, the higher percentage of taxes you pay. The rates are set progressively at 10%, 12%, 22%, 24%, 32%, 35% and 37%.

For people filing as single individuals in 2024, your tax bracket is this:

  • 10%: Taxable income up to $11,600

  • 12%: Taxable income over $11,600

  • 22%: Taxable income over $47,150

  • 24%: Taxable income over $100,525

  • 32%: Taxable income over $191,950

  • 35%: Taxable income over $243,725

  • 37%: Taxable income over $609,350

If you're filing a joint income in 2024, it's this:

  • 10%: Taxable income up to $23,200

  • 12%: Taxable income over $23,200

  • 22%: Taxable income over $94,300

  • 24%: Taxable income over $201,050

  • 32%: Taxable income over $383,900

  • 35%: Taxable income over $487,450

  • 37%: Taxable income over $731,200

I've used TurboTax and H&R Block in the past, but can I file my taxes for free at IRS.gov?

Yes, you can. If your adjusted gross income is $79,000 or less. "IRS Free File" allows qualified taxpayers to file their federal income tax returns online using guided tax preparation software at IRS.gov.

What's new for standard tax deductions in 2024?

  • The 2024 tax year standard deductions will increase to $29,200 for married couples filing jointly. That's an increase of $1,500 from the previous tax year.

  • The standard deduction for single taxpayers has been raised to $14,600, up from $13,850 in 2023.

  • If you're the "head of household," the standard deduction has been bumped $1,100 to $21,900 from the previous year.

Filing your taxes: Proposed child tax credit changes might create confusion on 2023 returns

What's the deadline to receive a 1099 form?

Did you make roughly $600 or more doing freelance work last year? If you're an independent contractor earning income outside of a traditional job, you should receive your 1099 tax form by Feb. 15. Employers generally are required to send the forms by the end of January.

When does my employer have to send my W-2?

Your employer is required to have sent you a W-2 by Jan. 31.

How many individual tax returns get filed to the IRS each year?

The IRS expects more than 128.7 million individual tax returns to be filed by the April 15, 2024 deadline.

Tax deductions: Driving for work will pay more next year after IRS boosts 2024 mileage rate

John Tufts covers trending news for the Indianapolis Star. Send him a news tip at JTufts@Gannett.com. USA TODAY reporters Daniel de Vise, Mary Walrath-Holdridge and Medora Lee contributed to this article.

This article originally appeared on Indianapolis Star: Tax season: When is the deadline to file in 2024? Where's my refund?