In any of the United States, the Tax Return is key to the economy and the IRS reminds us of this every year. And it is thanks to taxes that American society can move forward in some way towards a better place. At least that is the goal, since we can find that sometimes not everything works as it should.
Leaving this aside, we can keep in mind everything related to the taxes that Americans have to pay. Sending the Tax Return to the IRS every year is something very serious and not doing it could bring us many problems. So we should not forget that it is an obligation for most Americans to send the annual Tax Return.
In this sense, we have to keep in mind that the IRS has already announced the Tax Season. And this means nothing else than that we already know when we will be able to send the documentation and, therefore, we can make an estimate of when we will get the Tax Refund if we are entitled to get a refund of these taxes.
When does the IRS Tax Season start?
Starting this January, the IRS Tax Season will begin. Until recently we did not know an exact date, but now we do know this information. The specific date will be January 29, 2024. From that moment on, all the Tax Return documentation can be sent to the Internal Revenue Service to comply with the obligations linked to the taxes.
So we still have time to prepare the documentation related to the Tax Return. There are still more than two weeks left to get all the invoices and all the income documents that we get monthly. Remember that the necessary documentation is the one related to 2023. None of the 2024 income or expenses should be included in this Tax Return.
The deadline to send the documents to the IRS will be April 14, unless there is an exceptional change. Therefore, there is plenty of time to send the documents without rushing, but we must not forget that if we do not send all the papers on time we will have problems and we could get a penalty. Finally, it should also be noted that some Americans may request an extension of time.
Who must send the Tax Return?
The requirements to send the Tax Return change a little depending on the citizen. Income received during the year is key in determining this. As a general rule, all citizens under the age of 65 who have a gross income of $13,850 or more must file a Tax Return with the IRS.
That is the general rule, but it does not always have to be the case. Occasionally, some Social Security disability beneficiaries under age 65 may be exempt from filing a Tax Return. Each situation is completely unique, so it is advisable to check all the requirements thoroughly before submitting the paperwork.
However, if we are not required to file a Tax Return, we may be able to get a Tax Refund stimulus check from the IRS if we do. It is not something that is going to happen 100% of the time, but it is something that may be entirely possible given the situation. If we have doubts about this we should consult directly with an advisor or talk to the Internal Revenue Service.