How to File Your Income Tax Returns: Know Step-by-step Procedure:

Step 1: Assess whether you are required to file

• Whether you need to file a tax return depends on your income, age, and filing status. For example, if you're under 65 and earned at least $13,850 in 2024, you're required to file. Married couples filing jointly must file if their combined income is more than $27,700. If you're self-employed, you must file a return if you made more than $400, no matter your age or filing status.

Step 2: Gather All Necessary Documents

• W-2s from employers
• 1099s for freelance work, investments, or gig income
• 1098s for mortgage interest or student loan interest
• Social Security numbers for you and your dependents
• Receipts or records for deductions and credits (e.g., education expenses, childcare costs, charitable contributions)

Step 3: Select Your Filing Method

• IRS Free File: Available for individuals earning $79,000 or less through partnered tax software.
• IRS Direct File (Pilot Program): Available in select states for simple tax situations.
• Tax Software: Networks such as TurboTax or H&R Block offer guided filing for a fee.
• Professional Preparer: Useful for complex returns involving investments, business income, or property sales.

Step 4: Get the full benefit of deductions and credits

• Check all the tax deductions and credits you qualify for—whether standard or itemized—including the Earned Income Tax Credit (EITC), Child Tax Credit, and Lifetime Learning Credit.

Step 5: Submit and Monitor Your Tax Return

• File your tax return electronically or send it via mail before the last date, i.e., April 15, 2025. The method of E-filing is smoother and secure.
• The taxpayers receive their refund amount within 21 days if they choose direct deposit.
• Track your refund status using the IRS's "Where's My Refund" tool.