Ticker: Tax season starts January 27; Feds scrap tighter lobster restrictions
The IRS has announced Jan. 27 as the official start date of the 2025 tax season, and expects more than 140 million tax returns to be filed by the April 15 tax deadline.
The IRS said it is expanding its program that allows people to file their taxes directly with the agency for free. The federal tax collector’s Direct File program, which allows taxpayers to calculate and submit their returns to the government directly without using commercial tax preparation software, will be available to taxpayers in 25 states starting Jan. 27.
The pilot program in 2024 allowed people in certain states with very simple W-2s to calculate and submit their returns directly to the IRS. Those using the program claimed more than $90 million in refunds, the IRS said in October.
The IRS expects most refunds to be issued in less than 21 days. The agency says taxpayers can use Where’s My Refund? to check the status of their 2024 income tax refund within 24 hours of e-filing.
Feds scrap tighter lobster restrictions
Fishing regulators scrapped a plan for stricter fishing rules amid concerns about a decline in baby lobsters in the warming waters off New England.
The regulators were looking to institute a new rule that fishermen need to abide by a larger minimum size for the lobsters they trap. The change was only 1/16th of an inch or 1.6 millimeters, but regulators have said it would help preserve the population of the valuable crustaceans, as many small lobsters will need to be tossed back to the ocean.
Some fishermen have argued the change is unnecessary and will be disruptive to one of the country’s most lucrative seafood industries when it is already stressed by warming waters, surging expenses and new rules to protect whales. They’ve argued for the new rules to be delayed or tossed out.