IRS forces you to wait until January 27, 2025, for tax returns

In the United States, the Internal Revenue Service (IRS) has scheduled January 27, 2025, as the commencement of the tax filing season for the 2024 tax year. This date is significant as it marks the first day taxpayers can submit their federal tax returns electronically or via mail. Although taxpayers are able to file their returns before this date, the IRS will not start processing them until the designated opening date. The agency anticipates receiving over 140 million individual federal tax returns by the deadline of April 15, 2025, with an estimated one-third of those filers expected to receive refunds. The IRS has expanded its Direct File program, previously launched as a pilot in 12 states, to allow taxpayers in 25 states to file their federal returns for free. This initiative aims to provide easier access to filing for more individuals and may help alleviate some of the challenges associated with tax preparation. Taxpayers will be able to utilize this option alongside other methods of filing, including popular tax software and services like TurboTax and H&R Block, which also guarantee accuracy and offer support. April 15, 2025, serves as the deadline for most taxpayers in states that impose income tax. Those who need additional time can apply for a tax extension by this date. However, it's essential to note that even with an extension, estimated payments must still be made by April 15. This structure is designed to ensure that the IRS receives timely funding while also allowing taxpayers a bit more flexibility in finalizing their returns. As the 2025 filing season approaches, it's crucial for individuals to be aware of critical deadlines and available resources. The expansion of the Direct File program is expected to ease the burden for many taxpayers, offering a streamlined and cost-effective option for filing. Making sure to understand the tax process is vital for avoiding potential pitfalls and maximizing refunds.