Five Common Tax Deductions to Claim on 2024 Tax Returns

Jan 20, 2025

When does tax season begin in 2025?

Many companies are beginning to send out W-2 forms which marks the beginning of an almost three month-long tax season.

From late January to mid-April, millions of Americans will be required to file their taxes through the IRS where they could potentially receive or owe money. The tax brackets for this year’s season have changed a little compared to what they were last year, so some people may end up owing more or less depending on how much they earned.

Here’s what to know ahead of the upcoming tax season.

Many companies are beginning to send out W-2 forms which marks the beginning of an almost three month-long tax season.

From late January to mid-April, millions of Americans will be required to file their taxes through the IRS where they could potentially receive or owe money. The tax brackets for this year’s season have changed a little compared to what they were last year, so some people may end up owing more or less depending on how much they earned.

Here’s what to know ahead of the upcoming tax season.

Key tax season deadlines

There are two main dates to keep an eye on for the majority of people, the start and end of tax season.

IRS Direct File opening: Typically, tax filing season begins in January after the IRS Direct File becomes available in the middle of the month. Then, the deadline to receive W-2 and 1099 forms will happen on Jan. 31. Last year, the direct file opened on Jan. 12 and filing for individual tax returns began on Jan. 29, so it is possible for it to open on Monday, Jan. 27 this year, keeping with the last Monday of January.

Tax day: After these dates, the only deadline Tennesseans need to worry about is Apr. 15, which is on a Tuesday in 2025. April 15 is the deadline to file your taxes or request an extension.

For those who requested an extension, the deadline is Oct. 15 which is on a Wednesday in 2025.

What’s new this tax season?

According to the IRS, the biggest change coming this year is how many forms you need to file.

Some tax filers may receive Form 1099-K which is used to report payment transactions through payment cards and third party network transactions. As all income is taxable, whether it is from part-time work, side jobs or sale of goods, taxpayers must report all income on their tax return unless excluded by law.

“Third party settlement organizations will be required to report transactions when the amount of total payments for those transactions is more than $5,000,” the IRS reported.

When will I get my tax refund?

If you are due a refund from the IRS, you can expect it within 21 days. Electronic filing and setting up a direct deposit will allow you to receive your refund faster, according to the IRS.

Which states have no income taxes?

Tennessee is one of 10 states that do not have state income taxes. As such, residents only need to worry about the federal tax deadline and only have to file once.

Other states that do not have income taxes are:

  • Alaska
  • Florida
  • Nevada
  • New Hampshire
  • South Dakota
  • Texas
  • Washington
  • Wyoming

Tax brackets for 2024

The tax season for 2024 will have slightly different brackets than tax season for 2023 did.

For those filing as single, the tax brackets in 2025 are:

  • $0 to $11,925: 10%
  • $11,925 to $48,475: 12%
  • $48,475 to $103,350: 22%
  • $103,350 to $197,300: 24%
  • $197,300 to $250,525: 32%
  • $250,525 to $626,350: 35%
  • $626,350 or more: 37%

For those filing jointly, the tax brackets in 2025 are:

  • $0 to $23,850: 10%
  • $23,850 to $96,950: 12%
  • $96,950 to $206,700: 22%
  • $206,700 to $394,600: 24%
  • $394,600 to $501,050: 32%
  • $51,050 to $751,600: 35%
  • $751,600 or more: 37%

For those filing as head of household, the tax brackets in 2025 are:

  • $0 to $17,000: 10%
  • $17,000 to $64,850: 12%
  • $64,850 to $103,350: 22%
  • $103,350 to $197,300: 24%
  • $197,300 to $250,500: 32%
  • $250,00 to $626,350: 35%
  • $626,350 or more: 37%

For the full article and more visit:

When can you file taxes 2025? Key deadlines, dates for 2024 returns

 

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