What you should know
Starting in 2024, a new tool will allow qualified New Yorkers to file with the government at no cost. Part of the IRS’s federal direct filing pilot program to simplify tax filing, provide better and more equitable access to refunds for low-income families and expand taxpayers’ filing options Eligibility criteria for New York’s direct file tool will largely be determined by the IRS as part of the federal direct file pilot program.
New Yorkers will have a faster option to file their taxes in 2024.
Esro because those who meet the requirements will be able to submit it electronically for free to the state Department of Taxation and Finance, Governor Kathy Hochul announced on Tuesday, highlighting that the tool is part of a partnership with Code for America.
The announcement follows an update from the Internal Revenue Service that New York, as well as Arizona, California and Massachusetts, will integrate state e-filing tools with the IRS’s federal e-filing tool as part of a limited and scaled pilot, beginning in 2024.
“Through this first-of-its-kind partnership, New York is taking an important step toward modernizing our tax system and making it even easier for New Yorkers to access their tax benefits,” said Governor Hochul. “No one should have to navigate complex processes or pay out of pocket to file their taxes, and starting next year, we will equip New Yorkers with a new, innovative, and free tool to give taxpayers more options for filing their taxes. . “I am incredibly proud that New York is one of the first states in the nation to take this bold step and I look forward to continuing to collaborate with our partners at the IRS and Code for America to ensure New Yorkers can make the most of this new tool when it launches.” .
Once implemented, New Yorkers who meet the criteria will be able to electronically file their state and federal tax returns with state and federal tax authorities for free, without the use of tax preparers, promoting better and more equitable access to tax refunds. taxes, particularly for low-income families.
Who can use this tool
Eligibility criteria for New York’s direct filing tool will largely be determined by the IRS as part of the federal direct filing pilot program. The IRS expects that eligibility will likely be limited to taxpayers who report certain types of income and claim certain credits and adjustments. The scope of the pilot is subject to change, but the IRS currently anticipates that taxpayers will be able to enter their information on these tax provisions:
Report income: W-2 wage income, Social Security and railroad retirement income, unemployment compensation, interest of $1,500 or less. Credits: Earned income tax credit, Child tax credit, Credit for other dependents. Deductions: standard deduction, student loan interest, educator expenses.
Existing options for free file services for low-income New Yorkers remain in effect. For more information on available services, see: www.tax.ny.gov/pit/efile
2023-10-18 13:50:47
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