This is a vital notice for US taxpayers. If you are employed in the US, you might need to submit a 2024 tax return. The Internal Revenue Service (IRS) has now made it clear that several individuals who are not obligated to file a tax return are still qualified to obtain tax credits. Hence, it is essential to ensure whether you should file a tax return or not.
Final Opportunity to Obtain IRS Tax Refund
Based on the IRS, you may receive a tax refund of over $3,000 if you file your taxes and are eligible. The figure can be particularly useful for individuals who have already paid taxes on their income or who are due to receive eligible tax credits.
**Do You Have to File Taxes?
Nevertheless, not all taxpayers are obligated to file tax returns. Nonetheless, if you possess some specific circumstances, you might have to file your tax return. In general, you will have to file a tax return if:
- Your personal income (from freelance or part-time work, self-employment) is $400 or higher.
- Your total income surpasses the amount specified by the IRS.
- You are under a special situation that compels you to file taxes.
Tax Filing Deadline
The IRS started receiving tax returns on January 27, 2025, and the deadline stands at April 15, 2025. In case you are sure that you will be unable to submit your 2024 tax return within this date, you need to pay as soon as possible what you owe and request for an extension.
If you had asked for an extension, you will have to pay the tax by April 15, 2025. Otherwise, you might be charged penalties as well as extra charges by the IRS. If you had requested an extension, your last day of filing taxes will be October 15, 2025.
What to do if you have never filed taxes before?
If you are a first-time filer, don’t worry. In order to obtain IRS help, you may schedule an appointment and go to their Taxpayer Assistance Center.
Also, in case you cannot pay the lump amount of tax, IRS provides you with the option of online payment plan. You may apply for such a plan and pay your tax in simple installments.
Can you get a tax refund?
The IRS specifically says that you can obtain a tax refund if you are eligible for tax credit when you file your tax return.
Importantly In some instances, even though you’re not obligated to file taxes, you can also qualify for tax credits and a refund.
If you are not sure whether you should or not, go to the official website of the IRS IRS Tax Return Checking Page to obtain full details.
Conclusion
This is a golden chance for all taxpayers residing in the US to file their tax returns according to the regulations formulated by the IRS and receive a refund on their tax.
If you fulfill the necessary qualifications, the IRS may return $3,000 or more into your account. However, you must file taxes by April 15, 2025 or the extended due date (October 15, 2025) for this.
If you are filing tax return for the first time or are uncertain about payment, call the IRS Help Center and take advantage of the payment plan. Don’t let this slip away from you as it can make your financial situation stronger!
FAQs
Q1. Who is eligible for the IRS tax refund?
Anyone who qualifies for a refundable tax credit or has overpaid their taxes may be eligible for a refund, even if they are not required to file a tax return.
Q2. What is the deadline to file the 2024 tax return?
The deadline to file your 2024 tax return is April 15, 2025. If you request an extension, the final deadline is October 15, 2025.
Q3. What happens if I don’t file my taxes on time?
If you owe taxes and don’t pay by April 15, 2025, you may face penalties and interest. If you’re due a refund, you won’t face penalties, but you could lose your refund if you wait too long.
Q4. Can I apply for a payment plan if I can’t pay in full?
Yes, the IRS offers online payment plans for those who cannot pay their taxes in full at once.
Q5. How can I check if I need to file a tax return?
Visit the IRS website at https://www.irs.gov/individuals/check-if-you-need-to-file-a-tax-return to determine if you need to file a return.