KNOXVILLE, Tenn. — It may be hard to believe but tax season is officially here. The Internal Revenue Service (IRS) began accepting your tax returns on Monday.
Even though the deadline to file is months away, experts like Terry Reed with the Knoxville-Knox County Community Action Committee (CAC) say you should not wait until the last minute to file your taxes.
If you are expecting to get a refund, Reed said, the sooner you file your taxes—the quicker you get the refund. Also, the longer you wait, the harder it could get to get it done. Remember, people usually wait until closer to the deadline, so if you are going to a center to get help with your taxes, you might run into delays and longer waiting times.
Reed said filing your taxes does not have to be complicated. He underscored the key is having all of your financial documents ready.
“Come in and know that you have it. Do not think that you have it because you think you put it in your purse,” he mentioned. “Check those things before you go to get your taxes prepared because, without your paperwork, no matter where you go—no one has access to those papers except you.”
Reed also emphasized you need to make sure you have all of your W-2s in hand.
“Even if you only worked a job for a couple of weeks and then you change to something else, that W-2 needs to be filed,” he explained. “The IRS expects all of them to be filed. They really do not want amendments unless you just have to have them.”
If you are looking for help filing your taxes, there is free help available across East Tennessee. In Knox County, the CAC’s Volunteer Income Assistance Program (VITA) is sponsored by the IRS. The program is run by volunteers who are trained and certified by the IRS to do taxes. Reed said last year they did around 3,000 tax returns.
The VITA program is designed for middle to low-income tax filers. Reed said you do need to make an appointment to get the help. To make an appointment you can click here or call 865-244-3086.
This year they have also partnered with the Knoxville Center of the Deaf, which will provide interpreters for deaf people wanting to file their taxes. For the hearing impaired wanting to make an appointment, contact Lwhitfield@kcdtn.org or call 865-299-6451.
Reed said they are trying to reach as many people as possible.
“We do not want people to have to pay for their taxes to be prepared,” he emphasized. “Many times folks run out, they try to get their taxes done, they pay an exorbitant amount of money for it or they get a refund anticipation loan.”
The deadline to file your taxes is Monday, April 15, 2024. The IRS says it is expecting more than 125 million tax returns to be filed by that date.
Making its way through the U.S. Congress right now is a bipartisan tax package that would include temporary tax child credit changes. Reed said negotiations continue on this package but, if it were to come to fruition, you would need to have filed your taxes to take advantage of it.