It’s time to prepare for the 2024 tax season

COLORADO SPRINGS, CO. (KRDO)-- It's that time of year again; tax season is just around the corner.

Filing your taxes can be confusing, but it's important to ensure you file them correctly.

The IRS will start accepting and processing federal tax returns in one week on January 29th, but that doesn't mean you should wait that long to file.

If you already have your paperwork, you could start filing today.

If you're ready for tax season, submitting now might place yours at the top of the IRS's pile to ensure you have all your year-end documents before you submit.

It's David Fruh's 29th tax season as a tax expert this year, and he is telling his clients to begin their preparation by creating two piles. One is for W-2 forms, and the other is for deductions and possible credits.

He also says that qualifying Coloradans will receive an eight-hundred dollar credit through the TABOR sales tax refund, which lawmakers and the IRS have long debated.

"At this point, there have really been no big tax law changes on the IRS side, although Congress is discussing some tax law changes that may come within the next two weeks. We hope that's not the case because we're already two or three weeks into the season," says Fruh.

There's no immediate rush to get your taxes in, but the deadline is April 15th.

It's important to begin digging up those old recipes and start organizing now to ensure everything is handled.