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Thursday, November 21, 2024

Federal and Illinois Tax Season Starts January 29

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Representative Joe C. Sosnowski (R) | Illinois General Assembly

Representative Joe C. Sosnowski (R) | Illinois General Assembly

The Illinois Department of Revenue and the Internal Revenue Service (IRS) have announced that they will begin accepting state and federal income tax returns, respectively, on January 29. Taxpayers are encouraged to file their returns electronically and choose direct deposit for faster processing and issuance of refunds.

According to the Illinois Department of Revenue, taxpayers have multiple options for filing their state tax returns. The department's online account management program, MyTax Illinois, has been enhanced to allow taxpayers to file returns with or without an account. The website also offers services such as making payments, responding to department inquiries, and checking the status of refunds.

"It's important for taxpayers to file their returns electronically and choose direct deposit to ensure the fastest processing and issuance of any refunds," said the Illinois Department of Revenue.

The IRS expects a high volume of individual tax returns to be filed by the April 15 deadline. To facilitate the filing process, the IRS offers the Free File website, where taxpayers can file their federal returns for free. Starting from January 29, Free File Fillable forms are available at no cost to individuals of any income level.

"Taxpayers can take advantage of the Free File website to file their federal returns for free," said the IRS.

It is important to note that the timing of receiving a refund can be affected by various factors. While most IRS refunds are issued in less than 21 days, some returns may require additional review and may take longer. Taxpayers can check the status of their refund by using the 'Where's My Refund' tool or the IRS2Go app.

In addition to the start of the tax season, the IRS has implemented several changes for the 2024 tax filing year. These changes include expanded in-person service through the opening or reopening of Taxpayer Assistance Centers, an expanded customer call back feature to reduce phone wait times, improvements in the 'Where's My Refund?' tool, enhanced paperless processing, enhanced IRS online accounts with chat help and the ability to store bank accounts for payments, and a Direct File pilot program that allows certain taxpayers to file their returns directly with the IRS for free. The Direct File pilot program is expected to be available in mid-March.

"The IRS is making efforts to improve its technology and customer service processes with the aim of providing better service to taxpayers," said the IRS.

As the tax season begins, taxpayers are reminded to file their returns in a timely manner and pay any money owed on their returns by April 15, 2024, to avoid penalties and interest.

Overall, the start of the federal and Illinois tax season on January 29 marks an important period for taxpayers to submit their income tax returns and take advantage of electronic filing options for faster processing and issuance of refunds.

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