cnnespanol.cnn.com
IRS Opens 2024 Tax Season: April 15th Deadline, Expanded Free Filing
The IRS opened for 2024 tax returns on Monday; the deadline is April 15th, with extensions available for disaster areas or via automatic six-month filing extension (payment still due April 15th); free filing is expanded to 25 states and taxpayers with AGI under $84,000.
- How have recent changes to the 1099-K reporting threshold and the SALT deduction affected taxpayers filing in 2024?
- The IRS's expanded Free File program aims to increase accessibility for taxpayers. The 1099-K reporting threshold change impacts those using online payment apps, requiring them to report transactions exceeding $5,000 (or lower in some states). Changes in income, marital status, or significant life events necessitate careful review of deductions and credits.
- What crucial steps should taxpayers take to ensure accurate filing and maximize potential deductions or credits for the 2024 tax year?
- Taxpayers should review their 2023 returns for necessary documents. The state and local tax (SALT) deduction remains capped at $10,000 for 2024. Those purchasing electric vehicles should include Form 8936 information for clean vehicle credits. Refunds are generally issued within 21 days, but Earned Income Tax Credit (EITC) refunds are delayed until mid-February.
- What is the deadline for filing 2024 tax returns, and what provisions are in place for those needing extensions or free filing assistance?
- The IRS started accepting 2024 tax returns on Monday, April 15th being the official deadline. Extensions are available for disaster-affected areas or via automatic six-month filing extension (payment still due April 15th). Free filing options are expanded to 25 states through IRS Free File and private software partners, generally for those with Adjusted Gross Income (AGI) under $84,000.
Cognitive Concepts
Framing Bias
The article frames tax filing as a straightforward process, emphasizing ease and accessibility of online resources. This could minimize the challenges many individuals face with tax preparation, such as understanding complex tax codes or navigating the IRS website. The positive framing of the Free File program, highlighting its expansion, is a clear example of this.
Language Bias
The language used is largely neutral and informative. However, phrases like "simply postpone" and "no problem" might subtly downplay the complexity and potential stress associated with tax filing.
Bias by Omission
The article focuses primarily on the tax filing process and deadlines, with limited discussion of potential challenges faced by specific demographics or those with complex tax situations. There is no mention of the resources available to those who need help filing, beyond free filing software. While this omission might be due to space constraints, it could leave some readers feeling underserved.
False Dichotomy
The article presents a dichotomy between filing early for a quick refund and requesting an extension, neglecting the possibility of filing on time without seeking immediate reimbursement. This simplifies the decision-making process, ignoring the potential reasons why someone might choose a different approach.
Sustainable Development Goals
The article highlights the IRS Free File program, which offers free tax preparation and filing services to eligible taxpayers, particularly those with low to moderate incomes. This initiative helps reduce the financial burden of tax preparation for low-income individuals and families, promoting greater equity in access to tax services. The expansion of the program to 25 states from 12 in the previous year shows a commitment to increasing accessibility.