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As the 2024 tax season kicks off, Kentucky taxpayers are eager to know when they can file returns and expect their refunds, according to a report published by Yahoo!News. The Internal Revenue Service (IRS) and Kentucky Department of Revenue have outlined key dates, providing insights into the filing process and refund timelines. Here’s a breakdown of essential information for taxpayers in Kentucky, covering filing dates, refund tracking, and crucial deadlines.
Photo from Money
IRS Processing and Refund Timeline
The IRS is set to begin accepting and processing tax returns from January 29. With over 90% of refunds issued in less than 21 days, taxpayers who file promptly may see their refunds within a month. Direct deposit into a bank account is the fastest way to receive refunds.
Filing electronically and choosing direct deposit ensures quicker processing. Paper filing, though accepted, might take longer, and errors are more time-consuming to rectify. Taxpayers can start working on their returns, with most electronic filing platforms holding submissions until the official tax season start.
The IRS Free File option is already available for those with an adjusted gross income under $79,000, offering free, online filing. The IRS is also introducing its filing tool, IRS Direct File, in several states, but Kentucky is not among them.
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Kentucky Department of Revenue Processing
The Kentucky Department of Revenue also begins accepting and processing returns from January 29. Processing times for e-file returns can take up to six weeks, while paper returns may take up to 14 weeks. Opting for e-filing expedites the refund process.
Taxpayers can track the status of their federal tax return using the IRS’s Where’s My Refund portal. For Kentucky state tax returns, a similar service is available on the Kentucky Department of Revenue’s Where’s My Refund page.
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