Taxes 2024: Our Indispensable Cheat Sheet for Filing Your Tax Return This Year
This essential guide can help you find all the answers you need for getting your taxes filed this year.
Taxes are complicated, but it can help to break down the filing process into simple steps.
Three weeks into the 2024 tax season, and the IRS has already sent nearly 7.5 million refunds back to taxpayers. If you're expecting money back too, submitting your tax return is probably high on your to-do list. And if you plan to file soon, make sure to gather all the necessary paperwork to make filing easier.
Completing your taxes isn't always easy, especially when you aren't a tax professional or up to date with the latest tax laws. The rules vary by year and by person, depending on your filing status, age, income and other factors.
As you navigate the 2024 tax season, use our cheat sheet to help you find all the answers you need. The resources below provide expert advice on tricky tax topics and can help you start your return.
Hopefully, these resources can help you file with confidence, get the biggest tax refund possible and minimize stress.
Read more: File Early and Get Up to 20% Off Your 2023 Taxes With TurboTax
How to get started with your taxes
As with most tasks, the hardest part of doing your taxes is starting. You have to gather all your necessary forms (and track down any that are missing), pick a service or software to use and then spend hours completing your return.
No wonder almost a third of Americans wait until the last minute to file, according to a survey from financial services company IPX1031. Filing as early as possible has its advantages to consider.
Here's some info to help you jumpstart your tax return:
- What Are the Tax Deadlines for the 2024 Tax Season?
- How to Create an Online IRS Account and Why You Should
- 7 Good Reasons to File Your Tax Return Early
- How to File Your Taxes With a Phone or Tablet
- All the Ways You Can File Taxes for Free
- Best Tax Software for 2024
- Tax Season Filing Statistics Week by Week
What to know about the child tax credit in 2024
With the child tax credit tax break, you could be eligible for up to $2,000 per child. The rules around which kids qualify and how much money you could get refunded can be confusing, however. Here's what to know about this benefit.
- What Is the Child Tax Credit and Who Qualifies for It?
- When You Can Expect Your Child Tax Credit Money to Arrive
- Which States Have Child Tax Credit Tax Breaks?
- Will the Government Expand the Child Tax Credit in 2024?
Form, forms and more tax forms
There are a lot of tax documents: There's the W-2 your company sends you, assorted 1099 forms for other income, a 1098 form for mortgage interest and many others.
In all, the IRS provides 2,854 different tax forms on its website. Learn about the ones you need in 2024, and what to do if you are missing any.
- What Is a W-2 Form and What to Do If You Haven't Received Yours
- All the Different 1099 Tax Forms Explained
- Venmo and Cash App Income: Will You Get a 1099-K?
- How to Scan Important Tax Documents With Your Phone
Review your tax credits and tax deductions
Once you've started your return for tax year 2023, make sure you get every penny owed to you. One way to maximize your tax refund is to check all of the potential tax credits and deductions that could lower your tax bill.
Learn the basics of itemizing deductions (or taking the standard deduction), and review all the ways that you can pay less or get a bigger refund.
- How to Choose Between the Standard Deduction and Itemized Deductions
- Biggest Tax Credits Boost Your Tax Refund Even if You Don't Itemize
- All the Possible Tax Credits and Deductions for Homeowners
- Green Tax Breaks Give Money Back for Energy Efficiency
All about tax refunds
After you've finished your 2023 tax return and sent it to the IRS, the waiting begins. Fortunately, the IRS makes it easy to track your return and refund.
Learn more about how to track your tax refund, whether it's directly deposited or mailed as a paper check, as well as other tips for getting your money quickly and securely.
- Where's Your Tax Refund? How to Track Your IRS Money
- Will Your Tax Refund Be Delayed If the Federal Government Shuts Down in March
- How to Track Your Tax Refund Check in the US Mail
- Get Your Tax Refund Faster With Direct Deposit
- How to Get Your Tax Refund Two Days Early
- How to Protect Your Tax Refund From Identity Theft
What about taxes and Social Security or other government benefits
The rules around taxes and benefits can be baffling. Here are a few guides on what to know about taxes and your government benefits.
- Do Social Security Recipients Need to File a Tax Return?
- Do SSI Recipients Need to File Taxes?
- Do SSDI Beneficiaries Need to File a Tax Return?
- Will You Get Your Social Security Check on Time if the Government Shuts Down in March?
Answers to specific tax questions in 2024
Everyone's financial situation is unique, but several common quandaries flummox even the most diligent taxpayers.
Here are a few of the more common tax questions for 2024:
- Do I Have to Pay Taxes on My State Stimulus Check?
- Can You Claim a Boyfriend or Girlfriend as a Dependent?
- Which Divorced Parent Gets to Claim the Child Tax Credit?
- If Your Student Loan Debt Is Forgiven, Do You Owe Taxes?
How to get help on your taxes
If you can't find the tax answers you need on your own, don't despair. There are free resources that can help get your tax return finished and filed.
Good luck with filing your return. Be sure to check back as we update this list often with more tax explainers and tips for 2024.