Jeanne Sahadi, CNN
6 min read
April 15 — or “Tax Day” as it’s known to most Americans — is now just a couple of days away.
While the IRS has already received a majority of the federal income tax returns typically filed by Tax Day — 101.422 million as of April 4, to be precise — US tax filers are expected to send in tens of millions more between now and Tuesday.
If you are among them, and you’re planning on using the weekend and Monday to get to it, here are some last-minute tips to keep in mind.
If you’re starting cold, make sure you pull together all the documents you’ll need to fill out your return. You’ll want to look for income reporting forms from your employer (a W-2 for your earnings) or from your clients if you’re self-employed as a freelancer or contractor (a 1099-NEC or 1099-MISC).
You may even get a 1099-K from any payment apps you use like Venmo if you received payments for your goods or services. If you are receiving any income distributions from an IRA or pension, you should have a 1099-R.
Also look for other 1099 forms from your bank and brokerage for other types of income you received during the year (e.g., interest, dividends and capital gains).
All these forms will have been sent to you by mail, electronically or both.
Consider, too, any major changes that took place in your life in 2024 that could affect your taxes either through new tax breaks or new types of reportable income — for instance, if you got married, had children, received alimony, started a small business on the side, bought or sold a home, inherited an IRA or collected unemployment benefits.
Most filers now take the standard deduction — a flat amount you deduct from your income ($14,600 for single filers and those who are married filing separately; $29,200 for married couples filing jointly; and $21,900 for head-of-household filers).
But if the standard deduction amounts to less than the total of the value of itemized deductions you’re eligible to take (e.g., state and local taxes, mortgage interest, charitable contributions, etc.) you might want to itemize.
If you do, gather the documentation you will need to back up those deductions (e.g. a Form 1098 for mortgage interest from your lender, contribution receipts from charities, etc.).
Speaking of deductions, if you qualify to deduct contributions to a traditional tax-deferred IRA, you can put away up to $7,000 ($8,000 if you’re 50 or older) by April 15 and still have it count as your 2024 contribution.