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CPA’s tips for maximizing your tax refund


How to maximize your 2024 tax refund, according to a CPA

02:34

At the start of each year, the IRS announces when taxpayers can start filing their annual returns — an eagerly awaited date given that many workers will receive their tax refunds just weeks later. 

The IRS said Monday that it is opening the tax filing season on January 29, which means that taxpayers will have between that date and April 15 to file their returns. People who need extra time can still request an extension, which gives them until mid-October to file. 

Taxpayers in Maine and Massachusetts have until April 17 to file their taxes because of those states’ Patriot’s Day and Emancipation Day holidays. People living in federally declared disaster areas may also have more time to file.

About 128.7 million individual tax returns are likely to be filed this season, the IRS said on Monday. 

How early can I file my tax return?

The IRS said it will start accepting and processing tax returns on Monday, January 29. 

However, it added that people can start working on their taxes prior to that, either with a tax professional or software company. Likewise, it will make the IRS Free File program available for tax prep starting on January 12, with participating software companies accepting completed tax returns and holding them until they can be filed on January 29.

When will I get my tax refund?

Most taxpayers get their refunds within 21 days, which means that people who file their taxes on January 29 — the earliest available day to file a return — should get their payments by February 19. 

However, that isn’t guaranteed, and the IRS cautions that some returns may take more time to review, extending the period beyond 21 days. The IRS said that the best way to check the status of your refund is to visit Where’s My Refund? on IRS.gov or the IRS2Go app. 

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