Later this month, the IRS anticipates announcing a start date for the 2024 filing season, when the agency will begin accepting tax returns. This new tax season, the IRS is providing several tools, IRS Assistant (ITA), and resources to help you prepare to file your federal income tax return. These include the Interactive Tax Assistant, the Individual Tax Credit Assistant, the Refund Assistant, and the IRS Online Account.
The Interactive Tax Assistant (ITA) is a tool that answers some tax law questions that are particular to your circumstances. Based on the data you provide, this tool can determine whether you have to file a tax return, what your filing status is, whether you can claim a dependent, whether the type of income you have is taxable, whether You are eligible to claim a credit or whether you can deduct expenses. With the ITA, you can answer questions about:
Requirements for filing taxes, forms to use, due date.
Marital status for declaration purposes and dependents.
Retirement: pensions, IRA, Social Security.
Types of income.
Types of deductions.
Credits
Other questions.
Credits and deductions for individuals. Credits are significant as they directly deduct people's taxes or increase the amount of their refunds. Among the credits are:
Credits for families and dependents.
Credits for income and Savings.
Loans for homeowners.
Credits for health care.
Others
The Assistant also has a complete breakdown of business loans.
Refund Assistant. Serves to check the status of your income tax refund 24 hours after electronic filing.
IRS Online Account. Taxpayers with a Social Security number or Individual Taxpayer Identification Number can create or access their IRS online account to get the information they need to file their return. You can obtain information about your account, including balance, payments made, tax records, and others such as:
Create payment plans.
Access Tax Records.
Tax Balances.
For this new tax season, check the IRS Assistant (ITA) page and learn about your tax duties and rights.