Stay informed about important tax updates and deadlines

  • The start date for the 2024 filing season has not been announced yet
  • April 15 is still Tax Day and the deadline to pay any tax owed
  • Be prepared and organized by gathering receipts and tax forms
  • There is a chance of a government shutdown during tax season
  • Income-tax brackets for 2023 and 2024 have been announced
  • The standard deduction for 2023 is $13,850 for individuals and $27,700 for married couples filing jointly
  • The maximum 401(k) contribution for this year is $23,000
  • The child tax credit remains the same for now

The start date for the 2024 income tax filing season has not been announced yet, but it is expected to be soon. April 15 is still Tax Day, and the deadline to pay any tax owed. To prepare for the upcoming filing season, it is important to be organized and gather receipts and tax forms. However, there is a chance of a government shutdown during tax season, which could affect IRS staff assistance. The income-tax brackets for 2023 and 2024 have been announced, with increases to account for inflation. The standard deduction for 2023 is $13,850 for individuals and $27,700 for married couples filing jointly. The maximum 401(k) contribution for this year is $23,000. The child tax credit remains the same for now, but there are discussions to potentially expand it. Stay informed and watch for updates as tax season approaches.

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Factuality Level: 7
Justification: The article provides information about the timing of the 2024 filing season, the possibility of a government shutdown, income tax brackets, standard deductions, 401(K) limits, and the child tax credit. The information provided is based on statements from IRS spokespersons and experts. However, the article does contain some unnecessary background information and tangential details that are not directly related to the main topic.

Noise Level: 3
Justification: The article provides relevant information about income tax filing for 2024, including the start date of the filing season and potential government shutdown. It also discusses income tax brackets, standard deductions, 401(K) limits, and the child tax credit for 2024. The article is focused and provides actionable insights for readers to plan their finances. However, there is some filler content, such as the mention of the text-to-speech technology and the author’s disclaimer about not offering tax advice.

Financial Relevance: Yes
Financial Markets Impacted: The article provides information on income tax brackets, standard deductions, and retirement account contributions, which can impact individuals’ financial planning and tax liabilities.

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article primarily focuses on providing information about income tax filing and planning for the upcoming year. While it discusses potential government shutdowns and changes to tax policies, there is no mention of any extreme events or their impact.

Reported publicly: www.marketwatch.com