"Maximizing Your Tax Refund: Essential Tips for the 2024 Filing Season"
The tax filing season has begun, and taxpayers should consider whether to claim the standard deduction or itemize deductions, with the standard deduction for 2023 increased for married couples and single taxpayers. High earners are more likely to owe taxes at filing, and missing estimated tax payments has become costlier due to interest rate hikes. Failing to pay taxes on time can result in late payment penalties, so it's advisable to file and pay any taxes owed sooner to avoid accruing additional costs.