Tax Day 2024: Do you have your taxes ready to file? If not, here's what you need to know

This year's tax season kicked off months ago and it's about to come to an end. Here's what you need to know to beat the deadline.

When is the last day to file taxes? 

Federal 2023 tax returns are due by Monday, April 15.

What happens if I don't file my taxes on time?

If you don't owe any taxes, there won't be penalties for filing your tax return after the deadline. If you own money and do not pay your taxes on time, you will have to pay a penalty. The penalty is determined by how much you owe and the original due date of your taxes.

However, if you've waited until the last minute, but still intend to file your tax documents by the April 15 deadline or are unsure if you owe taxes, you still have a few options.

How to file your taxes before Tax Day 2024

If you still want to submit your tax return by the Monday deadline, you can:

• Prepare your taxes yourself.
• Use a professional tax preparer for a fee.
• Enlist the help of a service provider that offers free assistance.

Considering the date, an in-person appointment may not be likely so you may have a better chance of securing a virtual appointment.

If your annual income is $64,000 or less, or if you have a disability, limited English proficiency, speak English as a second language, or are 60 years of age or older, you might be eligible for free, in-person tax preparation services through the IRS Volunteer Income Tax Assistance (VITA) program.

Qualified taxpayers with an income under $79,000, can prepare and file federal income tax returns online using guided tax preparation software. Visit the IRS Free File Guided Tax Software website to find a partner organization to file a free federal tax return. Some partners offer assistance with submitting state tax returns and may charge a fee.

Even if you don't meet the requirements, you can still use free file-fillable forms.

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How to file for a tax extension?

If you are unable to finish your tax forms by the deadline or are unsure about owing taxes, you can request an extension of the deadline. All individual taxpayers, regardless of income, are eligible to use IRS Free File to request a tax-filing extension electronically.

Taxpayers can also send Form 4868 by April 15th to get an extra six months to complete their tax return. The extension gives you time to e-file your federal tax return, but if you owe taxes, the deadline to pay is still April 15, 2024.

What is the filing deadline in Delaware?

The filing deadline in Delaware for personal income tax returns is Tuesday, April 30. For more information, visit the Delaware Taxpayer Portal.   

When will I get my 2023 tax refund?

The IRS expects to issue most refunds via direct deposit in less than 21 days, according to the agency, but some returns may require additional review that takes longer to process.

Issues that can cause your refund to be delayed according to the IRS include:

• If the taxpayer is claiming certain credits, like the Earned Income Tax Credit or the Additional Child Tax Credit.   
• Whether the return is e-filed or sent by mail.   
• If the taxpayer has existing debts to the federal government.    

Electronically filing your tax return and choosing direct deposit is the fastest way to get your refund. For the issuance of paper checks, the IRS estimates a four- to six-week waiting period.    

Remember, the wait for your tax return is based on when the IRS has received your return and entered it, which can be a few days after you submitted it electronically or a few weeks after mailing it in and the IRS has manually entered your information.   

How to check the status of your 2023 tax return

Want to keep an eye on your 2023 tax return? You can check the status of your filed return, or find out why it may be delayed, by using the “Where’s My Refund?” tool on the IRS website or using the IRS2Go app.

Delaware also has a state tax refund locator that can help you figure out where your money is.

You can contact reporter Anitra Johnson at ajohnson@delawareonline.com.