The start of a new year always signals the start of many different things in the United States. From a new year for the IRS to a new increase in Social Security checks via COLA. This means that the pocketbooks of Americans can be affected in both negative and positive ways.
And that is that some Americans will have to pay more taxes in some cases, but other Americans will have access to get a larger Social Security check. So it’s not all bad news for United States citizens on a legal and economic level. So let’s keep all these aspects in mind in order to be able to organize our economy.
In addition to all this, we must keep in mind that there are certain financial obligations that we cannot avoid and the IRS reminds us that tax season is about to begin. This means that we are obligated to send in the appropriate paperwork. If we earned money in the previous year, that is, if we had income of any kind, we must pay attention to the documentation required by the IRS.
When does the IRS tax season begin?
The day that Tax Season will begin is January 29, 2024. This means that from then on we will be able to send our documents related to the tax return. However, it is not mandatory to send all the documents in the first few days, although it is recommended.
Have you heard? #IRS will begin accepting tax returns on Jan. 29, 2024. Here’s a #FriendlyReminder to check out the resources available to help you throughout the tax filing season: https://t.co/1L4TxdFQPW pic.twitter.com/eyTJZKusGX
— IRSnews (@IRSnews) January 23, 2024
Americans have until April 15th to file their tax return, but we should not wait until the last moment if we want to get our tax refund as soon as possible and avoid problems of any kind.
If we send the tax return to the IRS, we could get the tax refund in just a few weeks. It all depends on the individual situation, but the tax-related stimulus check will arrive within weeks of sending in the paperwork. Also, the sooner we send in the paperwork, the sooner we will receive the payment.
Can I combine the Tax Refund Stimulus Check with Social Security?
The Tax Refund Stimulus check and Social Security payments are two completely separate and independent things. Therefore, we can receive both payments without any problems. In fact, if we receive Social Security, we are usually eligible to receive a check from the IRS or at least not owe any taxes.
The timing of the stimulus checks does not vary by type of citizen. So Social Security retirees, disability recipients, and all other Americans will get a payment depending on when they send in their paperwork.
Likewise, remember that if you activate Direct Deposit, you will be able to collect the payment much sooner because you will not have to wait for the physical check to arrive in your mailbox. Also, Direct Deposit payments are safer because they will not get lost in the mail or be delayed.