It is tax season in the U.S., which means millions of people are filing their tax returns to report income and claim refunds. Filing taxes is a legal requirement for anyone earning above a certain threshold, but even if you do not meet the minimum income requirement, filing could qualify you for valuable refunds and credits. If you have recently filed, your tax refund could be arriving soon.
Filing
Not everyone is required to file a tax return, but your gross income determines if you must. The IRS sets income thresholds based on your filing status and age.
For 2024, single taxpayers must file a return if their income exceeds:
| Filing Status | Age | Income Threshold |
|---|---|---|
| Single | Under 65 | 14600 |
| Single | 65 or older | 16550 |
| Head of Household | Under 65 | 21900 |
| Married Jointly | Under 65 | 29200 |
| Married Jointly | One spouse 65 or older | 30700 |
| Married Jointly | Both 65 or older | 32200 |
Other factors, such as self-employment income, business profits, or investment gains, may also require you to file. If you qualify for refundable credits, such as the Earned Income Tax Credit, you should file even if your income is below the threshold.
Refunds
After filing your tax return, your refund timing depends on how you filed and whether you claimed certain tax credits.
- E-file with direct deposit – Refunds typically arrive within 10 to 12 days.
- Paper return by mail – Refunds can take up to four weeks.
For those claiming the Additional Child Tax Credit or Earned Income Tax Credit, refunds will be processed by March 3, 2024, if:
- You filed your return online
- You requested a direct deposit
- There were no errors in your return
Delays may occur if the IRS needs to verify information or if there are inconsistencies in your return.
IRS
If the IRS contacts you about your tax return, do not panic. They may need more information to process your return accurately.
- The IRS will never call, email, or text to ask for personal details.
- Always open and read any official letters from the IRS.
- If you are unsure if a notice is legitimate, contact the IRS directly.
Tax season is a prime time for scammers. Be cautious about unexpected requests for personal or financial information.
With millions of Americans expecting refunds, ensuring that your tax return is accurate and filed correctly can help you get your money faster and avoid unnecessary delays.
FAQs
Who must file a tax return?
Anyone earning above the IRS income threshold must file taxes.
When will I receive my tax refund?
E-filed refunds arrive in 10 to 12 days; mailed returns take up to 4 weeks.
What if my refund is delayed?
Check the IRS refund tracker or contact the IRS for updates.
How does the IRS contact me?
The IRS only contacts taxpayers via mailed letters, never by phone or email.
Are tax scams common?
Yes, scammers often impersonate the IRS; never share personal information online.