The IRS is expected to start processing 2024 tax returns in late January. This article outlines important dates, tax bracket changes, the updated 1099-K reporting requirements for freelancers and gig workers, and options for filing taxes for free.
Another tax filing season is upon us.The IRS has not yet announced the official start date for the season, but the agency typically begins processing new returns the last week of January. Here are other key dates and important things to know about this year’s filings: Single filers: Tax brackets for joint filers: For 2024, the Child Tax Credit is worth up to $2,000 for each qualifying child. A child must be under age 17 at the end of 2024 to be a qualifying child.
All taxpayers, regardless of income level, can also use IRS Free File Fillable Forms.The IRS Free File is currently unavailable online as it is closed from last tax season, but more information will become available later in January. RELATED: 2021 Recovery Rebate Credit: What it is and who qualifiesSeveral factors can influence the timing of a refund after the IRS receives your tax return.
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