Sai CPA Services is pleased to share the latest IRS updates. These updates reflect the IRS's ongoing efforts to modernize and enhance its services to better assist taxpayers during the upcoming tax season.?
- Start Date: The IRS will begin accepting tax returns for the 2024 tax year on January 27, 2025.?
- Filing Deadline: The deadline to file tax returns is April 15, 2025.?
- Direct File Program: The IRS is expanding its Direct File program to 25 states, up from 12 states in the previous year3. This program allows taxpayers to calculate and submit their returns directly to the IRS without using commercial tax preparation software.?
- Free File Program: The IRS Free File program is now open, providing free tax preparation software to eligible taxpayers.?
- Customer Service: The IRS aims to maintain customer service wait times under 5 minutes and offer 10,000 extended office hours.?
- Refunds: Taxpayers can expect refunds within 21 days of filing electronically.?
- Earned Income Tax Credit: The IRS emphasizes the importance of claiming the Earned Income Tax Credit, noting that approximately 20% of eligible taxpayers miss out on this benefit.?
- Tax Scams: The IRS continues to warn taxpayers about seasonal tax scams and encourages them to visit IRS.gov for the latest information on fraudulent schemes.?
- IRS Online Account: Taxpayers are encouraged to sign up for an IRS Online Account to access key details from their most recent tax return, request an Identity Protection PIN, and view account transcripts.?
- Identity Protection PIN (IP PIN): The IRS will accept Forms 1040, 1040-NR, and 1040-SS even if a dependent has already been claimed on a previously filed return, as long as the primary taxpayer on the second return includes a valid IP PIN.?
For more Information and Guidance, please contact Sai CPA Services.?
