Four Things You Need to Know About Presidents Day and the IRS

As the 2024 tax season rolls in, millions are gearing up to file their federal income tax returns. This period is notably hectic for the Internal Revenue Service (IRS), especially around Presidents Day. IRS Commissioner Danny Werfel emphasized the surge in inquiries the agency receives during this time and highlighted the efforts to enhance taxpayer services. Here’s a closer look at what this means for you during this bustling tax season.

#1. Is the IRS open on Presidents Day?
Presidents Day, observed on Monday, February 19, sees the IRS doors closed in observance of the federal holiday. Despite this, the weeks surrounding Presidents Day witness a dramatic increase in taxpayer activity, leading to a high volume of phone calls to the IRS. To manage this, the IRS encourages the use of its online resources. IRS.gov is packed with tools and information to assist taxpayers, offering everything from filing guidance to access to personal tax account information. This approach aims to reduce wait times on calls and provide 24/7 assistance.

#2. How to Track Your Tax Refund Status
The IRS reports that nearly 99% of taxpayers submit their returns electronically, a method that accelerates the refund process and reduces errors.

For those eagerly awaiting refunds, the “Where’s My Refund?” tool on IRS.gov offers real-time tracking. This efficient system underscores the benefits of e-filing and opting for direct deposit to expedite your refund.

#3. Finding a Qualified Tax Preparer
The quest for a reputable tax preparer is made easier with the IRS Directory of Federal Tax Return Preparers.

This resource helps taxpayers find qualified professionals, ensuring accurate and compliant tax filings. Whether you need comprehensive tax advice or assistance with complex financial situations, the right tax professional is invaluable.

#4. Free Tax Filing Options
To alleviate the cost of tax preparation, the IRS provides free filing options for eligible taxpayers. Through the IRS Free File program and the Volunteer Income Tax Assistance (VITA) and Tax Counseling for the Elderly (TCE) programs, qualifying individuals can receive free tax help. Additionally, special Saturday hours at taxpayer assistance centers offer face-to-face support, demonstrating the IRS’s commitment to accessible tax assistance for all income levels.

Bottom Line: Navigating the 2024 Tax Season
While many choose to file their taxes early, it’s crucial to remember that the official deadline, Tax Day, falls on April 15, 2024. The IRS may extend deadlines for those affected by natural disasters, providing some flexibility. Moreover, in an era where scams and identity theft are rampant, the IRS offers Identity Protection PINs (IP PINs) to secure taxpayers’ identities. This six-digit code is a robust measure against fraudulent filings, ensuring that your tax process is as smooth and secure as possible.

This tax season, leveraging the IRS’s resources and being mindful of these key points can make your tax filing experience more efficient and less stressful. Whether you’re navigating the digital avenues of IRS.gov or seeking professional tax preparation assistance, being informed and proactive is your best strategy for a successful tax season.

At Duncan, we’re here to help! Schedule a meeting with one of our professionals today.

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