The IRS is expected to officially kick off the 2024 tax season around Jan. 27, 2025, which would make this the first day the agency begins accepting both e-filed and paper income tax returns. However, if you want to get an early start on tax filing, you can complete your income tax return with us at TaxAct as soon as Jan. 2, 2025, and we’ll send it to the IRS right away when they begin accepting returns in late January.
If you’ve already completed your 2024 return — great! Your return should be one of the first in line for processing by the IRS. But if you haven’t filed your taxes yet, don’t fret. You have plenty of time to get started.
In fact, you can easily begin today by selecting the 2024 TaxAct® product that best fits your tax situation.
Why e-file your taxes?
Choosing to electronically file (e-file) your tax return is the quickest and most efficient way to submit your taxes to the IRS. But that’s not the only reason you should consider e-filing your tax return this year. Let’s go over a few more reasons why e-filing may be the best option for you.
1. Fast and accurate filing: no math required.
When you e-file using tax preparation software such as TaxAct, you can complete your return faster and with greater accuracy. That’s because tax software like ours does the math for you and guides you through every step of your return, even potentially helping you identify opportunities for tax savings.
Not only that, but the IRS can process your income tax return faster when you e-file your taxes. You don’t have to rely on snail mail, which tacks on extra time before the IRS has your return in hand. E-filing also lessens the risk of someone at the IRS mistyping your information from a paper form into their system, so it can reduce the likelihood of human error causing a problematic typo on your tax return.
If you’re due a tax refund for 2024, e-filing usually means your refund money will hit your bank account much quicker. When you e-file your tax return, it’s immediately sent to the IRS for processing, whereas paper tax returns take much longer. You can use the IRS Where’s My Refund? tracking tool 24 hours after e-filing your tax return, but you’ll have to wait up to four weeks to track your refund if you paper filed your tax return.
Want your tax refund even faster? Select direct deposit as your method of receiving it to have your money in hand as quickly as possible.
3. Receive confirmation for peace of mind.
One of the main benefits of e-filing is that you can elect to get an electronic confirmation when the IRS receives your tax return. No more waiting and wondering if the return you put in the mailbox has reached its intended destination. Once you file your return using TaxAct and it’s accepted by the IRS, we’ll send you an email or text notification letting you know the processing is underway.
4. E-file now, pay later.
It is a common misconception that you must pay any taxes owed immediately when you e-file your tax return. In reality, you have some flexibility.
You can pay tax amounts owed when you e-file, or you can e-file early and set up an automatic payment to be made on the tax deadline (April 15, 2025). Payments can be sent electronically from your bank account, with a check, through a money order, or by credit card.
While you still must pay your tax bill by the tax filing deadline to avoid penalties and fees, filing early gives you more time to prepare and save for any unexpected taxes owed.
5. Stay organized.
Using DIY software to file your taxes creates a permanent electronic record of your tax return. This allows you to easily access it for future use, like when tax time rolls around next year. If you continue to use TaxAct as your means of e-filing, we’ll already have your 2024 tax return data from the previous year, meaning we can immediately transfer last year’s information into your new tax return to save time.
Plus, let’s be honest, it’s often much easier to keep track of a digital copy saved on your computer than having to track down a paper copy. With TaxAct, once you file this year’s tax return, you can access it for seven years at no charge. Goodbye, cluttered filing cabinets!
6. Keep more money in your pocket when e-filing.
Don’t spend more money than necessary to file your income tax return. With just a little comparison shopping, it’s easy to identify affordable options, and our prices are hard to beat.
Ready to beat the rush and put tax filing behind you? Start e-filing your tax return today.