Ana, a single mother of two children, was in the kitchen reviewing a stack of papers with obvious concern. It was the time of year I dreaded the most: tax season.

The complexities of the tax system, the uncertainty of changing laws, and the search for deductions and credits overwhelmed her. The mere thought of facing incomprehensible forms and endless calculations created stress and anxiety. How could you simplify this complex process and ensure that you comply with your tax obligations without wasting time and money?

Contents:

In this article, we'll guide you through the 2024 tax season, providing you with useful information to simplify filing your return. We will address topics such as:

Important dates:

• January 29, 2024: Beginning of the receipt of declarations.
• April 15, 2024: Deadline for filing most federal returns.
• October 15, 2024: Deadline to file your tax return if you request an extension.

Tax law changes for 2024:

• Increased child tax credit: The credit was extended to 2025, with a maximum value of $3,600 per child under 6 and $3,000 per child between 6 and 17 years old.
• Modifications to the standard deduction: The standard deduction for 2024 was adjusted to $14,250 for single taxpayers and $28,500 for married couples filing a joint return.

Tips for getting a better refund:

• Gather all your documents: Forms W-2, 1099, deductible expense receipts, etc.
• Explore all available deductions and credits: Find out if you're eligible for credits such as the American Opportunity Credit or the Medical Expense Deduction.
• File your return electronically: It's the fastest and most secure way to file your return.

Statistics:

• According to the IRS, 60% of taxpayers file their tax returns electronically.
• A study by the National Bureau of Economic Research found that taxpayers who use tax software are 20% less likely to make mistakes.
• The IRS estimates that taxpayers stop claiming up to $1 trillion in deductions and credits each year.

References:

• Internal Revenue Service: https://www.irs.gov/
• National Bureau of Economic Research: https://www.nber.org/
• Tax Policy Center: https://www.taxpolicycenter.org/

Conclusion:

Filing a tax return doesn't have to be a complex process. By following these tips, you can simplify the process and get a better refund.

Are you feeling overwhelmed by tax season? Don't worry, at La Familia Multiservices we're here to help. We have a team of highly qualified tax professionals who will provide you with the assistance you need to file your return accurately and efficiently. Contact us today for more information.

Remember:

• The information provided in this article is for informational purposes only and should not be considered as tax advice.
• We recommend that you consult with a tax professional for personalized advice about your specific situation.

At La Familia Multiservices, we're committed to helping you navigate tax season with peace of mind and confidence.

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