February 12: Employees who earned $20+ in tips in January must report them to employers. February 15: Businesses must issue Form 1099 for certain 2023 payments. Individuals who claimed a W-4 tax exemption last year must file a new W-4. February 28: Businesses must file information returns (Forms 1099, 1096, W-2G) for certain 2023 payments.

The IRS is providing automatic penalty relief to 5 million taxpayers with overdue 2020 and 2021 tax balances. Taxpayers do not need to apply—penalties will be waived automatically. The relief applies only to balances under $100,000 per return and is valid until March 31, 2024. Those who already paid penalties may receive a refund. Taxpayers can check their updated balances via their IRS online account.

The IRS began accepting 2023 tax returns on January 29, 2024, marking the official start of the tax season. The IRS has introduced new online features such as an updated “Where’s My Refund?” tool, improved paperless processing, and enhanced digital tax account management. New IRS features include: expanded e-filing options, online responses to IRS notices, and digital tools to schedule or cancel payments.