LITTLE ROCK - With Tax Day just a few weeks away, the countdown is on to prepare and submit tax returns for 2024.Tax filing season officially began Jan. 27 when the IRS began accepting paper and electronic tax returns. The agency said it expects more than 140 million individual tax returns to be filed by April 15.Laura Hendrix, associate professor and extension personal finance expert for the University of Arkansas System Division of Agriculture, offers some tips and resources for filers looking to save money and make good use of their tax refunds.Get Organized Tax filers need several documents, such as reports of income received in 2024, and information for tax credits, deductions and itemization."Keep the documents and tax forms you need to file your taxes in one place," Hendrix said. "This way, you can prepare an accurate return, claim deductions or credits, and avoid errors that could delay your refund." Lists of items and forms required can be found on the IRS website: https://www.irs.gov File electronically to get a faster refund.Use direct deposit - Have your refund deposited directly into your bank account by using IRS Form 8888.File for Free The IRS expects more than half of tax returns be filed this year with the help of tax professionals, but many people may save money by using one of several free tax preparation options: IRS Free File - The IRS partners with several tax preparation companies for Free File. It's available to anyone with an adjustable gross income of $84,000 or less. Adjusted gross income is total income minus deductions. To learn more and see the list of tax prep companies, visit the IRS website at https://www.irs.gov/filing/freefile-do-your-federal-taxes-forfree MyFreeTaxes helps people file their taxes for free full tax preparation for income $67,000 or less and free self-filing service for income of $84,000 or less. United Way provide...
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