How To File Your 2024 Taxes: Step-by-Step Guide for Accurate Tax Filing

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The due date is approaching and it is once again time to file your tax returns. Filing taxes for 2024 can feel overwhelming, but with the right guidance, you can determine how to navigate through standard deductions, credits, cuts, federal taxes, state taxes and whatever else 2024 taxes have in store.
Whether you’re electronically filing or just want to figure out what you owe, following this step-by-step guide on how to file your taxes makes the process easier.
Read More: Owe Money to the IRS? Most People Don’t Realize You Can Do This
Determine If You Need to File Taxes
Whether or not you need to file your taxes depends on your income, age and filing status. According to the IRS, you generally need to file if:
- Your gross income is over the filing limit
- You have over $400 in net earnings from self-employment
- You had other situations that require you to file
But in some cases, it may be better to file your taxes, even if you aren’t required. For example, consider filing if you qualify for certain tax credits, you made estimated tax payments or if your paycheck had federal income tax withheld. Households with dependents below the age of 17 might also be able to qualify for the refundable child tax credit.
Filing Your Taxes: A Simple Step-by-Step Guide
Make sure to file by the deadline even if you can’t pay your tax bill. If you avoid filing, you’ll end up owing more in penalties, but you can file for an extension by the same deadline if needed. This ultimate guide will walk you through the process step by step, making it easy and stress-free.
- Gather your documents
- Choose your filing method
- Understand your deductions and credits
- Fill out your tax forms
- Review and submit your return
- Keep copies of your tax return
- Follow up on your refund
1. Gather Your Documents
When you start filing taxes, gather all the necessary documents, forms and personal information you will need. These include your W-2 forms from your employer, 1099 forms for any additional income, receipts for deductible expenses, routing numbers for your bank account and any other relevant financial documents.
Having these organized in front of you saves you from scrambling when filing. To help you keep your tax documents organized all year, consider scanning them into digital PDFs or using personal accounting software like QuickBooks to stay on top of your financials and other important documents.
2. Choose How You Will File
If you have a good grasp on your taxes withheld and how to calculate what you owe you have options when it comes to filing. Here are some available methods to consider.
- File online using tax preparation software such as Intuit TurboTax or H&R Block: Tax preparation software is easily accessible online. It guides you through the entire process, helps you find tax credits and deductions and files your federal and state taxes with the click of a button. But if your taxes are more complicated — you have 1099 income, multiple jobs, own a business or own rental property — it may be better to hire a professional.
- Hire a professional tax preparer or accountant: A professional has expert knowledge and experience, making them better suited to handle more complex tax situations. One of the primary disadvantages of hiring a professional tax preparer or accountant is the cost. Fees for these services vary widely, but they can be expensive.
- File by mail using paper forms: You can download Form 1040 directly from the IRS’ website. It’s free, and you can fill it out by hand and mail it, although this isn’t recommended for everyone. It’s a more time-consuming process, there’s more room for error and you will need to fill out your state’s individual tax return form separately.
3. Complete Your Tax Return
If you’re filing online, the tax preparation software will guide you through filling out IRS Form 1040 — the U.S. Individual Income Tax Return form — or other necessary forms. If you’re filing by mail, carefully fill out each form following the instructions provided.
This is also when you’ll figure out what tax credits and deductions you may qualify for. Deductions and credits can help lower your tax bill or increase your refund. Common deductions include expenses for education, home mortgage interest and charitable donations. Make sure to take advantage of any deductions and credits you qualify for to maximize your tax savings.
4. Check for Errors and Review Your Return
Review deductions, credits and overall information before submission. Common errors, such as incorrect Social Security numbers or missing signatures, are easy to avoid but could have consequences. Double-check your information to ensure accuracy and avoid any errors. Any mistakes could potentially delay your refund or result in penalties.
5. Submit Your Tax Return
When you’re confident everything is correct, submit your return either electronically or by mail. If you’re using tax preparation software, it will submit your tax return with the click of a button and notify you if it was accepted. If you’re filing Form 1040 by hand, you can find the correct address to your state’s IRS office here. You’ll also need to fill out a state tax return and send that separately. The address should be listed on the individual state return form.
For most taxpayers, the deadline to file your tax return, pay any taxes owed or request a deadline extension is April 15, 2025. It’s recommended to file early to avoid missing the deadline and paying penalties.
6. Track Your Tax Refund or Payment Status
If you’re expecting a refund, you can track its status using the IRS’s “Where’s My Refund?” tool on their website. If you’ve used a platform such as TurboTax you can also opt in for alerts letting you know any status updates with your refund. Typically, refunds are issued within a few weeks of filing, but it may take longer during peak tax season.
It’s also important to keep copies of your tax return and all supporting documents for your records. This will come in handy if you ever need to reference them in the future or in case of an audit.
Tax Filing Tips and Resources
Here are a few more helpful tips to leave you with:
- Be sure to look for all available tax credits, such as the Earned Income Tax Credit, or EITC, which can provide a reduction for average gross income for low- to moderate-income individuals and families.
- Use IRS Free File, which allows taxpayers who make under $79,000 to file returns electronically for free “using brand-name software provided by commercial tax filing companies.”
- Set up a direct deposit account with the IRS, either on the paper return or the e-file submission to get your refund sent to you more quickly.
How Much Do I Have To Make To File Taxes in 2025?
Almost everyone with a Social Security number is required to file taxes. However, if you are under certain income thresholds you may not have to worry about filing or requesting an extension. Here is the minimum income to file taxes for each filing status:
- Single, under 65: $14,600
- Single, 65 or older: $16,550
- Head of household, under 65: $21,900
- Head of household, 65 and older: $23,850
- Married filing jointly, under 65 (both spouses): $29,200
- Married filing jointly, 65 or older (one spouse): $30,750
- Married filing jointly, 65 or older (both spouses): $32,300
- Married filing separately, any age: $5
- Qualifying surviving spouse, under 65: $29,200
- Qualifying surviving spouse, 65 or older: $30,750
If you have more specific questions about your tax situation, such as if you have capital gains to report or need more information on the FICA tax rate, don’t hesitate to reach out to your trusted tax advisor for guidance.
Final Take To GO
Filing your taxes doesn’t have to be stressful. Remember to gather your documents, choose the right filing method, take advantage of deductions and credits, fill out your forms accurately, review and submit your return, keep copies for your records and follow up on your refund.
FAQ
- When are taxes due?
- Taxes are due Tuesday, Apr. 15, 2025. You'll want to make sure you have all your forms, such as 1040, W-2s, 1099s and other tax documents -- for example, records of interest or retirement savings activity -- in hand before doing so. This can help you avoid any processing delays or potential flagging of your return. Many employers and banks have started sending requisite employment-related forms out, and typically do so by the end of January.
- How much do you have to make to file taxes?
- Here are the minimum income thresholds for filing taxes:
- Single filing status under 65: $14,600 and under you don't have to file
- Single filing status 65 or older: $16,550 and under you don't have to file
- Here are the minimum income thresholds for filing taxes:
Caitlyn Moorhead contributed to the reporting of this article.
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