New tax season change you need to know about – NBC Chicago

The tax season officially started on Monday, and although there are still months to go by the April 15 -Deadline, experts say there are some things to look at when you prepare.

NBC 5 answers talked to experts about what’s new this tax season- and to get some reminders about how to avoid getting your refund stolen.

From new state tax credits to free ways to archive- there is a lot to know about this tax season.

Federal deductions are increased

“On the federal side … The standard deduction will rise everywhere for all filing status, which means the IRS will tax you less on your income that you earn,” said Susana Ramirez, with Rises upAn organization that offers free tax preparation services for thousands of low -income households in Illinois.

For single taxpayers or married couples filed separately, the standard deduction is now $ 14,600. For married couples who archive jointly, it has been strengthened to $ 29,200. That’s an increase of $ 1,500 from 2023.

New tax credits in Illinois

Illinoi’s taxpayers who qualify also have access to two new state credits implemented this year.

Those who earned under $ 66,819 dollars qualify for the earned income tax credit. And those who qualify for Illinois entered Income Credit can also apply for the new state tax credit if they have a child under 12.

“It will give you a little boost on your refund and if you have children and can increase it even more,” Ramirez said.

And do you remember the third round of payments of financial influences from the pandemic? There is still time to claim that money if you have not received them.

“So the third round of $ 1,400 actually expires soon. So many people who did not receive it under Covid or afterwards will have to file a tax return to claim that it was a credit and received it as a refund, ”Ramirez said.

Scams warnings

Now that you have an idea of ​​what your refund can look like, it’s important to protect it. Steve Bernas with Better Business Bureau warns the taxpayer must be careful who they choose to make their taxes.

“No one can promise that you could do better than anyone else. It’s all done. It has to be done the same way regardless of doing so. So someone promises more than others are very careful, ”Bernas said.

Bernas also warned taxpayers to stay away from tax preparation companies that appear to be displayed overnight.

“Suddenly the gas station becomes a tax place and they have a big uncle sam out front. You have to research these organizations and who they are and will they be around the day after the tax is due. Many times they are not. They shut up and they are gone. So who will represent you if there is something wrong with the filing too? “Bernas said, adding that people need to make sure that the person who fills their tax forms also signs them and provides their contact information for any future follow -up.

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

“Many times people find out when they go, make their own taxes and say that someone else filed in your name. That’s part of the whole, you know, identity theft -problem, the question that is out there, still the fastest growing white collar crime out there, “Bernas said.

“Unfortunately, it is a very long process to try to solve (fake tax returns). But it’s always good to try to archive early and make sure your information is verified, ”Ramirez said.

New, Free IRS -The Tax Manufacturing Program

Finally some good news: This year, more than two million Illinois taxpayers will be able to file their federal and state taxes for free. Illinois is now one of 25 states attending Direct file Program that allows most taxpayers to submit both state and federal taxes directly to the IRS at no cost.

To make sure that no one else archives your tax return- you can request a six -digit PIN number from IRS. It will prevent someone else from using your social security number to submit tax.

Once you have filed your taxes, the IRS says most refund will be available within 21 days.

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

Once you have this information you can start your verification request in “Where is my refund” tool here.

You may begin to check the status of your refund within:

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