Tax Season Postponed by the IRS

The Internal Revenue Service announced when the agency will start accepting tax returns. After the second economic impact payments were sent out by the Department of Treasury and the Internal Revenue Service, it was expected that the start of the tax season would be at a later date than normal. 

For the 2024 tax season – for 2023 tax returns – the IRS will start accepting tax returns starting from February 12, 2024. This is the earliest date you can file your taxes, and by hours from now, you can submit your return. 

Even before the tax season starts, you can prepare your return and wait for the IRS to start accepting returns. If you have all the tax forms and other relevant documentation to file your return, it’s basically pointless to wait for the tax season to start. 

How to get my refund early?

The one and only thing you can do to get your tax refund faster is by filing your tax return as early as possible. 

As a general rule, you should file taxes electronically through a tax preparation service (e-file provider) to get your return faster to the IRS. It usually takes between two to three weeks for the IRS to process tax returns and faster your return is completely processed, the IRS will approve and send your tax refund. You can track the whole process of your tax refund using the Where’s My Refund online tool.

So file taxes early to get leverage over your tax refund and get it sooner. Although paper filing might be mandatory due to filing certain tax forms on your tax return such as Form 4852 – Substitute for Form W-2 and 1099-R, go through your return thoroughly so that you don’t have to amend it later. We’re saying this because mailed-in returns are more prone to errors than e-filed ones because of the guidance e-file providers offer.

If you ever find yourself not being able to figure out the status of your refund, check the 2024 refund schedule and shape an idea in your head as to when you might get it.