Newsflash

Yes, It’s One of Those Two Sure Things: Tax Time Starts Today

01/30/2024 Rachel Kennedy Taxes 0

President Biden has kept – and will keep – his promise to not raise taxes by a single penny on households making less than $400,000 a year.
— The White House (@WhiteHouse) January 30, 2024

Filing for free is available on IRS.gov

The tax gap (the gap between taxes owed and taxes collected) was $688B in 2021 — nearly half the size of last year’s deficit.

For every $1 the IRS spends auditing rich tax cheats, it can collect $12.

If the GOP truly cared about the deficit, they would fund the IRS, not gut it.
— Robert Reich (@RBReich) January 30, 2024

CBS reports “The IRS announced that it expects more than 128 million individual tax returns to be filed by the deadline, so they’re trying to help and have made some changes this year. They say they’ve increased help on their toll-free phone line and expanded its ‘Customer Call-Back’ feature to reduce wait times. The most widely-used tool, called ‘Where’s My Refund?’ is also improved so you can check on when to expect getting money back.”

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— Elizabeth F. (@underthesea62) January 30, 2024

What to Know:

If your income was $79,000 or less this year, select tax software companies will file your return for free.

People who miss the tax filing deadline will likely face a hefty penalty, so make sure you’ve got April 15 on your calendar now and start working on your tax filing well ahead of time.