2024 Tax Filing Tips and Resources
As Granite Staters begin to file their taxes, I want to share some useful tips and resources from the IRS to help folks file for little or no cost and to save money through available tax credits. The 2024 tax season begins on Monday, January 29, 2024, and the deadline to file is Monday, April 15, 2024.
I have long advocated for the IRS to offer a direct, free filing option for taxpayers. This year, for the first time, the IRS is beginning a pilot program to offer direct filing and New Hampshire is one of the eligible states. While this will be a limited program to begin, the IRS intends to expand this program to help more people file for free. More information about eligibility is available here. The deadline to file taxes is April 15, 2024, unless an extension is requested. Remember that an extension to file is not an extension to pay and taxpayers should still make any tax payments by the deadline.
IRS Free File
Taxpayers who made $79,000 or less in 2023 can file their taxes for free using the IRS’s Free File program. You can access both free, guided tax preparation services (for those whose income totaled $79,000 or less) and free file fillable forms (for those who made more than $79,000). Access IRS Free File here.
Volunteer Income Tax Assistance (VITA) program
The VITA program offers free tax assistance for people who generally make $64,000 or less, people with disabilities and taxpayers with limited English language proficiency. More information is available here, and you can find a VITA site near you here.
Tax Counseling for the Elderly (TCE)
The TCE program offers free tax help for those who are 60 years or older. This service specializes in providing information around pensions and retirement-related issues. More information is available here, and you can find a TCE site near you (operated by AARP) here.
Tax Assistance for the Military (MilTax)
The Department of Defense offers free tax preparation and e-filing services for federal tax returns to members of the military and to some veterans. There is no income limit to utilize this resource. Learn more here.
Tax credits you may be eligible for:
The Earned Income Tax Credit (EITC)
The EITC is a refundable credit that can help low- and moderate-income workers and families. This credit is generally available for taxpayers who have earned less than $63,398 and whose invested income was less than $11,000 in the tax year 2023. You must have earned income to qualify for this credit; unearned income, such as unemployment income, is not considered eligible for this credit. Check if you qualify here.
The Child Tax Credit (CTC)
The CTC is a tax credit available for single or married workers earning low or moderate incomes who have dependent children under the age of 17. Qualifying individuals who file a federal tax return can receive a credit of up to $2,000 per child. Check if you qualify here.
Individual Retirement Arrangements (IRAs)
An IRA is a personal savings arrangement that allows you to set aside money for retirement. You may be able to deduct some or all of your contributions to a traditional IRA, or eligible for a tax credit equal to the percentage of your contribution. More information is available here.
Education Credits
Tax credits, deductions and savings plans may help taxpayers afford higher education expenses. The two main types of education credits available are the American Opportunity Tax Credit and the Lifetime Learning Credit. More information is available here.
A full list of potential credits and deductions available is here.
Helpful reminders:
Ahead of filing taxes, you may need the following documents and information on hand:
- Social Security Number (SSN)
- Individual Tax Identification Number (ITIN)
- Adoption Taxpayer Identification Numbers (ATIN)
- Identity Protection Personal Identification Numbers (IP PIN) valid for calendar year 2024
- Routing and account numbers to receive your refund by direct deposit
- Forms regarding source of income (for example, a W-2 for employment income)
- Documents regarding deductions, if applicable
To get your refunds as quickly and easily as possible, file electronically and with direct deposit. If you are unable to file electronically, it is recommended that you maintain postal receipts for your records.
Beware of scams. The IRS will never contact taxpayers by email, text message or social media channels to request personal or financial information. The IRS will also never demand immediate payment without first offering taxpayers the chance to appeal or question the amount owed.
If you have questions, check out the IRS’s online tools and frequently asked questions for assistance.
Filing taxes can be a headache, but with these resources and information in hand, you can be ready and save money this tax season. In the Senate, I'll continue working to simplify the tax filing system and ensure accountability around scams and predatory practices. As always, my office is always just a call away to assist with any issues.
