As tax season begins, the Internal Revenue Service (IRS) has issued six crucial tips to help taxpayers navigate the 2024 tax refund filing process smoothly.
From gathering essential documents to using free online filing services, these recommendations can help ensure a fast, accurate, and stress-free experience.
Here’s everything you need to know to file your taxes efficiently this year.
1. Gather All Necessary Tax Documents
One of the biggest causes of filing errors and refund delays is missing or incorrect information. Before filing, taxpayers should ensure they have:
- Social Security numbers for everyone listed on the tax return.
- Bank account and routing numbers for direct deposit.
- Tax forms, including W-2s, 1099s, 1098s, and any records of digital asset transactions.
- Form 1095-A (Health Insurance Marketplace Statement) if applicable.
- Any IRS letters citing amounts received for certain tax deductions or credits.
Having all documents prepared before filing helps prevent errors that could lead to delays or missed deductions.
2. Report All Income Sources
Failing to report all sources of income can lead to unexpected IRS notices or penalties. Taxpayers must include income from:
- Wages, freelance work, and self-employment.
- Side gigs, part-time, or seasonal work.
- Investment income (stocks, dividends, or rental properties).
- Online sales of goods and services.
- Payments received through mobile payment apps.
Ensuring all income is accurately reported reduces the risk of IRS audits and penalties.
3. File Electronically and Use Direct Deposit
The fastest and most secure way to receive a tax refund is by filing electronically and opting for direct deposit. Electronic filing reduces common mistakes, as tax software automatically calculates figures and checks for errors.
Those who file paper tax returns often experience longer processing times and increased risk of manual errors. The IRS strongly encourages electronic filing to expedite refunds.
4. Use Free IRS Filing Resources
The IRS offers several free tax filing options depending on income level and eligibility:
- IRS Free File: Available to individuals and families earning $84,000 or less in 2024, providing free access to tax software.
- Direct File: A new option for taxpayers in 25 states, allowing them to file federal returns online directly with the IRS at no cost.
- Free File Fillable Forms: Available for those earning above $84,000, providing electronic versions of IRS paper forms.
- VITA and TCE Programs: Free tax preparation assistance for individuals earning $67,000 or less, seniors (60+), individuals with disabilities, and limited-English speakers.
- MilTax: A free filing option for military members, veterans, and their families, with no income restrictions.
These resources help taxpayers file accurately without the expense of paid tax services.
5. Choose the Right Tax Filing Method
Taxpayers can file their returns in several ways, depending on their confidence level with tax preparation:
- File personally: Use the IRS Free File or tax software to complete returns independently.
- Use an online filing service: Many platforms offer step-by-step guidance.
- Hire a tax professional: Ensure they are legitimate and trustworthy. The IRS provides a Directory of Federal Tax Return Preparers for verification.
Taxpayers should be cautious of fraudulent preparers who promise unrealistic refunds or engage in deceptive filing practices.
6. Utilize IRS Online Tools for Quick Assistance
The IRS offers online resources available 24/7 to help taxpayers get answers without long phone wait times:
- Interactive Tax Assistant: Provides answers to common tax questions.
- “Let Us Help You” Portal: A hub for self-service tax support.
- IRS2Go Mobile App: Check refund status, find free tax prep help, and access IRS news.
These tools provide instant information and guidance, saving taxpayers time and effort.
Stay Updated on Tax Changes
The IRS regularly updates taxpayers on changes, deadlines, and potential scams. To stay informed, consider:
- Following the IRS on social media for real-time alerts.
- Subscribing to IRS email notifications.
- Watching IRS YouTube videos for filing guidance.
Final Thoughts
Filing taxes doesn’t have to be stressful. By organizing financial records, using electronic filing options, and leveraging IRS free resources, taxpayers can ensure a smoother filing process. Taking the time to follow these steps can help avoid errors, reduce refund delays, and ensure full compliance with IRS regulations.
For the latest tax updates and more filing resources, visit IRS.gov.
Emma Bennett is a lifestyle enthusiast dedicated to exploring the trends, tips, and ideas that enhance everyday living. From wellness routines and home decor inspiration to personal growth and modern etiquette, Emma provides readers with insights to live a balanced and fulfilling life. Her stories are a blend of creativity and practicality, designed to inspire and empower.
