10 tips for tax season

What you need to know:

• Make sure you are prepared before tax season arrives! Gather and organize your receipts and documents. Wait until you have the right documents before filing.
• Individuals should review tax credits and deductions that they may be eligible to claim, including the Two Wage Earner Credit and Earned Income Tax Credit, which will increase for the 2023 tax year.
• Tax professionals should renew their IRS-issued Preparer Tax Identification Number (PTIN) by December 31 and revoke power of attorney or third-party authorization forms for taxpayers who are no longer clients.

The 2024 tax season may not begin until January, but taking steps to prepare now can save taxpayers time and money when they’re ready to file next year. With that in mind, the South Carolina Department of Revenue (SCDOR) has 10 tips to help both tax professionals and individuals be ready for the filing season:

Read the full news release here on the SCDOR website.