New changes in the tax season you should know about – NBC Chicago

The tax season officially started on Monday, and although there are ahead of April 15 months before the registration deadline, explain experts that they have to prepare for.

NBC 5 answers with experts about what this tax season is new and to get some memories of how to avoid your refund is stolen.

From new state tax credits to free options for applying for a submission, there is a lot to know about this tax season.

Federal deductions are increasing

“On the main page … If the standard deduction for the entire registration status is completely increased on the entire board, which means that the IRS will tax you less about your income that you earn,” said Susana Ramirez with Head, an organization, offers free tax preparation services for thousands of households with low income in Illinois.

For individual taxpayers or married couples who submit separately, the standard deduction is now $ 14,600. For married couples who registered together, it was increased to $ 29,200. This is an increase of $ 1,500 compared to 2023.

New tax credits in Illinois

Illinois taxpayers who qualify also have access to two new state credits that have been implemented this year.

Those who earned less than $ 66,819 qualify for the tax credit for deserved income. And those who have been preserved for the Illinois can also apply for the new tax credit for child tax if a child under the age of 12.

“You will increase your refund a little and if you have children and you may increase more,” said Ramirez.

And do you remember this third round of the economic effects of pandemic? It is still time to claim this money if you have not received it.

“The third round of the 1,400 US dollars will soon be expired. Many people who have not received it during Covid or afterwards have to submit a tax return to claim this as a credit and to receive them as a refund, ”said Ramirez.

Fraud warnings

After you have an idea of ​​what your refund may look like, it is important to protect you. Steve Bernas with the Better Business Bureau warns the taxpayers should be careful who they decide for their taxes.

“Nobody can promise that they could do it better than someone else. Everything is ready. It should happen the same way, regardless of whether it does. So someone is very promising than others, ”said Bernas.

Bernas also warned the taxpayers to stay away from tax preparation transactions that seem to appear overnight.

“Suddenly the petrol station turns into a control center and you have a big uncle Sam at the door. You must carry out the research on these organizations and what you are and will be the day after the dates of taxes. Often they are not. They close and they are gone. So who will represent you if something is wrong with the submission? “Bernas said and added that the people should make sure that the person who fills out their tax forms also signs them and provides their contact information for future follow -ups.

Both Bernas and Ramirez asked taxpayers to submit their returns as soon as possible.

“People often find out when they do their own taxes and say, someone else who has been submitted in their name. It is part of the whole, you know, theft of the identity, the problem that is out there is still the fastest growing white collar crime out there, ”said Bernas.

“Unfortunately, it is a very long process to try to solve (fraudulent tax returns). However, it is always good to try to film early and ensure that your information is checked, ”said Ramirez.

New, free IRS tax registration program

After all, some good news: This year, more than two million taxpayers in Illinois can submit their state and state taxes free of charge. Illinois is now one of 25 countries that participate in the Direct File program that makes it possible for most taxpayers to submit both state and federal tax free of charge with the IRS.

To ensure that nobody else submits your tax return, you can request a six-digit PIN number from the IRS. This prevents someone else from using their social security number to submit taxes.

As soon as you have submitted your taxes, most reimbursements will be available within 21 days.

To check the status of your refund, you need the following personal data:

Once you have this information, you can use your review request in the “Where is my reimbursement” tool Here.

You can do the status of your reimbursement within:

• 24 hours after the electronic submission of a tax return 2024
• 3 or 4 days after the electronic submission of a 2023 return
• 4 weeks after sending the return