Tag Archives: individuals

FILING DEADLINE FOR 2023 TAX RETURNS

Monday, April 15th, 2024 is Tax Filing Deadline for Most Taxpayers for 2023 Returns

April 15, 2024

Taxpayers Who Live In MA or ME Have Until April 17, 2024 to File Their Returns

The filing deadline for most taxpayers to submit 2023 individual tax returns, pay any taxes or file an extension is Monday, April 15, 2024. Because of the Patriots’ Day holiday on April 15 in Maine and Massachusetts and the Emancipation Day holiday on April 16 in the District of Columbia, taxpayers who live in Maine or Massachusetts have until April 17, 2024 to file their returns.

Age increased to 72 for RMD from retirement accounts

For People Who Turn 70 1/2 After December 31, 2019

Included as part of a government spending bill that was signed into law December 20, 2019, The Setting Every Community up for Retirement Enhancement Act of 2019 (the Secure Act) changes the age at which individuals must begin taking the required minimum distributions (RMDs) from retirement accounts. The SECURE Act increases the age at which individuals must begin taking RMDs to 72 from 70 1/2. However, the new law only applies to people who turned 70 1/2 after December 31, 2019. If a person turned 70 1/2 in 2019, or have already been required to take RMDs, the law does not apply.

Why e-file?

The IRS issued a Tax Tip (Issue Number 2020-25) on reasons taxpayers should electronically file (e-file) their taxes.

IRS Tax Tips – Tax Tip 2020-25, February 26, 2020

The IRS top reasons why taxpayers should file electronically are:

It’s safe and secure.

E-file is often free.

It’s available through many convenient options.

It’s accurate and easy.

People who e-file get faster refunds.

It can be used whether a taxpayer is getting a refund or needs to make a payment.

See the IRS Issue Number: Tax Tip 2020-25 for more details.