Tax Season is Upon Us

Beware of Scams this Tax Season

Tax season is here and the scammers are near. Don’t fall victim to these imposters. Phone calls, texts, and emails allegedly sent by the IRS are scams. DO NOT engage with them, instead, report it to the IRS. To keep up with the latest information, tips, tools, and resources visit IRS.gov.

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Here are recommended steps you can take to limit your vulnerability to tax return scams:

• File your taxes early. Don’t give scammers the time to use your stolen information.
• File electronically with care. Avoid public Wi-Fi and only use a secure computer to file an electronic tax return. 
• Keep your tax return information in a secure location. Either secure them in a password-protected file on your computer or store hard copies of all tax forms in a safe place.
• Never click links or download attachments from unverified sources. These may contain web viruses, which can infect your computer and transfer your information right into the scammer’s hands.
• Never share your information with an unknown contact over the phone or online. Your personal information should always be kept personal.

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Important Tax Deadlines and Dates

Stay ahead this season- Mark your calendar with these dates recommended by Riley Adams, CPA at Intuit TurboTax:

• January 29, 2024 - Taxpayers can start filing tax returns.
• January 31, 2024 - Due date for employers to send W-2 forms. 
• January 31, 2024 - Certain 1099 forms are sent. 
• February 15, 2024 - Reclaim your exemption from withholding.
• April 1, 2024 - Required minimum distribution due if you turned 73 in 2023. If you turned 73 in 2023, you have until April 1, 2024, to take your 2023 required minimum distribution (your first required distribution) from your retirement account. After the passage of the SECURE Act 2.0 in 2022, if you turned 73 years old on or after 2022, you don’t need to take RMDs until you reach age 73.
• April 15, 2024 - Tax day (unless extended due to local state holiday).
• April 15, 2024 - Deadline to File Form 4868 and request an extension. 
• April 15, 2024 - Deadline to make IRA and HSA contributions for the 2023 tax year. 
• April 15, 2024 - First quarter 2024 estimated tax payment due. 
• June 17, 2024 - Second quarter 2024 estimated tax payment due. 
• September 16, 2024 - Third quarter 2024 estimated tax payment due.
• October 15, 2024 - Deadline to file your extended 2023 tax return. If you chose to file an extension request on your tax return, this is the due date for filing your tax return.
• December 31, 2024 - Required minimum distributions have to be taken for individuals age 73 or older by the end of 2024. After taking your first RMD (for 2023) by April 1, 2024, if you turned 73 in 2023, you also need to take your 2024 RMD by the end of the year. This is also the deadline if you are otherwise required to take an RMD for 2024.
• January 15, 2025 - Fourth quarter 2025 estimated tax payment due. 

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What You Need to File 

The information needed can vary for each person. Here are a few things you might need: 

• ID
• Social Security Card 
• Proof of identity for dependents you may file on your taxes
• W-2 Forms and/or any other income documents 

To be sure you are fully prepared visit: https://www.irs.gov/filing

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Work Cited: 

Riley Adams, C. (n.d.). Every tax deadline you need to know. TurboTax Tax Tips & Videos. https://turbotax.intuit.com/tax-tips/tax-planning-and-checklists/important-tax-deadlines-dates/L7Rn92V1d