The deadline to file your taxes is here for most Americans.
WASHINGTON — Tax Day falls on April 15 for most Americans this year, meaning there are hours left to file your taxes.
The Internal Revenue Service has already received over 90 million tax returns and processed more than 88 million, according to the latest data from the tax agency.
More than 128.7 million tax returns are expected to be filed this season, according to the IRS.
Early tax data suggests Americans are seeing larger tax refunds this year, partly due to the provision changes made by the IRS to counteract inflation. The tax agency pushedtax brackets and standard deductions up by 7% for 2023 tax returns.
Here's what you need to know about the tax deadline, including common tax relief exceptions and what to do if you need an extension.
When are taxes due?
The annual tax deadline, known as Tax Day, is April 15.
Are there any exceptions?
Yes. The IRS says some taxpayers living overseas and disaster victims have later filing deadlines. That means storm, flooding and wildfire victims in some parts of Maine, Rhode Island, Hawaii, Alaska and other states have extra time to file; extended deadlines vary by state.
The tax relief deadlines are for people in disaster situations designated by the Federal Emergency Management Agency. Review thefull list here to check if your county is included and see details.
When can I expect my tax refund?
The IRS expects most refunds to be issued in less than 21 days after filing.
Taxpayers can check the agency's "Where's My Refund?" page on IRS.gov for a status on their refunds.
How to file a tax extension
If you need more time to file your taxes, you have until April 15 to request an automatic six-month tax filing extension. The IRS says individual taxpayers can do this through its Free File tool or by filing Form 4868.
While these extensions can give you more time to find missing documents or finish filling out paperwork, they don't give you more time to pay. Nerdwallet says that if you owe taxes and want an extension, you need to estimate your tax bill and pay as much of it as you can to avoid a late payment penalty.
Are tax refunds bigger this year?
As of March 29, 2024, the refund average was $3,050, a 4.8% increase from the $2,910 average seen during the same period in 2023.
Part of the reason that Americans are receiving bigger tax refunds on average is due to the provision changes the IRS made to counteract inflation. The tax agency pushedtax brackets and standard deductions up by 7% for 2023 tax returns.
Val Lick contributed to this report.
FAQs
Frequently Asked Questions
| Payment Period | Due Date |
|---|
| January 1 - March 31, 2024 | April 15, 2024 |
| April 1 - May 31, 2024 | June 17, 2024 |
| June 1 - August 31, 2024 | September 16, 2024 |
| September 1 - December 31, 2024 | January 15, 2025* |
The deadline to file taxes is April 15, 2024, unless an extension is requested. Remember that an extension to file is not an extension to pay and taxpayers should still make any tax payments by the deadline. Taxpayers who made $79,000 or less in 2023 can file their taxes for free using the IRS's Free File program.
What day is the IRS releasing EITC refunds in 2024? ›
should show an updated status by February 17 for most early EITC/ACTC filers. The IRS expects most EITC/ACTC related refunds to be available in taxpayer bank accounts or on debit cards by February 27 if they chose direct deposit and there are no other issues with their tax return.
What are the new IRS rules for 2024? ›
For single taxpayers and married individuals filing separately, the standard deduction rises to $14,600 for 2024, an increase of $750 from 2023; and for heads of households, the standard deduction will be $21,900 for tax year 2024, an increase of $1,100 from the amount for tax year 2023.
Why do I owe taxes this year in 2024? ›
There are a lot of variables that affect your refund or tax due including how much you earned, how much tax you had withheld, your filing status, the number of dependents you claim, your deductions and credits, etc. You may have lost Earned Income Credit or the Child Tax Credit— did a child turn 17?
Will my tax return be more in 2024? ›
For instance, at this time last year, the typical refund was 11% lower than in 2022, IRS data shows. The rebound in 2024's average refund size is due to the IRS' adjustment of many tax provisions for inflation.
Why is my refund so low in 2024? ›
You may be in line for a smaller tax refund this year if your income rose in 2023. Earning a lot of interest in a bank account could also lead to a smaller refund. A smaller refund isn't necessarily terrible, since it means you got paid sooner rather than loaning the IRS money for no good reason.
How much do you get back in taxes for a child in 2024? ›
2024 child tax credit news update
The maximum refundable child tax credit amount was capped at $1,600 per dependent for this filing season. In tax years 2024 and 2025, the refundable amount would grow to $1,900 and $2,000.
How much is Child Tax Credit 2024 per child? ›
The Tax Relief for American Families and Workers Act of 2024–a nonpartisan proposal introduced on January 16, 2024–plans to boost the maximum refundable amount per child in the upcoming tax years. The suggested increments are $1,800 for the 2023 tax year, $1,900 for the 2024 tax year, and $2,000 for the 2025 tax year.
Why did I get $300 from the IRS today? ›
Under the American Rescue Plan, most eligible families received the first payment on July 15, and payments will continue each month for the rest of 2021. For these families, each payment is up to $300 per month for each child under age 6 and up to $250 per month for each child ages 6 through 17.
In general, disqualifying income is investment income such as taxable and tax-exempt interest, dividends, child's interest and dividend income reported on the return, child's tax-exempt interest reported on Form 8814, line 1b, net rental and royalty income, net capital gain income, other portfolio income, and net ...
What is the Tax Relief Act 2024? ›
Under section 7508A, the IRS gives affected taxpayers until Sept, 3, 2024, to file most tax returns (including individual, corporate, and estate and trust income tax returns; partnership returns, S corporation returns, and trust returns; estate, gift, and generation-skipping transfer tax returns; annual information ...
Are we getting child tax credit in 2024? ›
With the new boosted credit, the maximum refundable amount per child would be $1,800 in the tax year 2023, $1,900 in the tax year 2024, and $2,000 in the tax year 2025, letting lower-income families claim more of the refundable portion of the credit.
At what age is Social Security no longer taxed? ›
Social Security can potentially be subject to tax regardless of your age. While you may have heard at some point that Social Security is no longer taxable after 70 or some other age, this isn't the case. In reality, Social Security is taxed at any age if your income exceeds a certain level.
What is the minimum income to not file taxes in 2024? ›
Depending on your age and filing status, the IRS has minimum income thresholds that determine whether you must file a tax return. Here are the breakdowns: Single filing status: ◾ $13,850 if younger than 65.
What are the due dates for estimated tax payments 2024-2023? ›
The estimated federal tax deadlines for 2023 are April 15, 2024; June 17, 2024; September 16, 2024; and January 15, 2025. If you need to pay estimated federal taxes, it's important you do so by these deadlines. Otherwise, you may face penalties.
How to pay federal estimated taxes online in 2024? ›
You can make estimated tax payments one of five ways: online through the IRS website, over the phone using a debit or credit card, on your phone through the IRS2Go mobile app, with cash at an in-person retail partner or by mailing the vouchers attached to Form 1040-ES with a check or money order for the taxes owed.
What happens if I miss a quarterly estimated tax payment? ›
If you miss the deadline for a quarterly tax payment, the IRS automatically charges you 0.5% of the amount that you didn't pay for each month that you don't pay, up to 25%. To find out how much you owe up to this point, you can use a tax penalty calculator.
Can I pay estimated taxes after January 15th? ›
Share: You can postpone the quarterly Jan. 15 estimated tax payment until Jan. 31 if you file your return and make any necessary payments by that date.
