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2024 points of interest...


Key filing dates:

  • The IRS has announced they will begin accepting and processing 2023 tax returns on January 29th 2024
  • Monday, April 15th 2024 will be the filing deadline for most Americans.

 

Avoid refund delays and understand refund timing

 

  • Many different factors can affect the timing of your refund after your tax return is filed.  Although the IRS issues most refunds in less than 21 days, the IRS cautions taxpayers not to rely on receiving a refund by a certain date, especially when making major purchases or paying bills.  Some returns may require additional review and may take longer. For example, the IRS, along with its partners in the tax industry, continue to strengthen security reviews to help protect against identity theft and refund fraud. Additionally, refunds for people claiming the Earned Income Tax Credit (EITC) or Additional Child Tax Credit (ACTC) can't be issued before mid-February. The law requires the IRS to hold the entire refund − even the portion not associated with EITC or ACTC.
  • Some returns may need manual review delaying the processing if IRS systems detect a possible error, is missing information, or there is suspected identity theft or fraud.  Some of these situations require the IRS to correspond with taxpayers, but some do not.  This work does require special handling by an IRS employee so, in these instances, it may take the IRS more than the normal 21 days to issue any related refund. In those cases where IRS is able to correct the return without corresponding, the IRS will send an explanation to the taxpayer.
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