Wednesday, January 15

TAX SEASON OPENS JANUARY 27

  • If you haven t made the switch from paper filing yet, learn more about your options at

    dor.sc.gov/iit-filing

    .

  • Learn more about our refund timeline and check your refund status anytime at

    dor.sc.gov/refund

    .

SCDOR Director Hartley Powell expressed his satisfaction that more South Carolinians than ever before are filing online and choose direct deposit. Since filing electronically is the safest, most accurate, and quickest way to get a refund, we eventually want all taxpayers to do so.


  • Collect any document that will affect your return before you start the filing process

    and store them in one place, including W-2 and 1099 forms and transcripts of past returns, which are

    accessible on MyDORWAY

    .


  • Don t file using a year-end pay stub

    , which could slow down processing and delay your refund. Wait until you receive your W-2 before you file.

  • If you owe a balance, pay electronically at

    dor.sc.gov/pay

    . Find tutorials that walk you through every step of the process at

    dor.sc.gov/MyDORWAY

    .


  • Update your address with the SCDOR

    by logging in to MyDORWAY, clicking the

    More

    tab, and selecting

    Manage Names & Addresses

    . Those without a MyDORWAY account can use the

    SC8822I

    .


  • Update your address with your employer

    before they send your W-2 and 1099 forms.

An expansion of the exemption for dependentsFor the 2024 tax year, the exemption amount has increased from $4,610 to $4,790. Every eligible dependent, including qualifying children and qualifying relatives, is entitled for the exemption.

A decrease in the rate of income taxThe top marginal rate is 6.2% in 2024, a decrease from 6.4%. The 2024 SC1040 Tax Tables can be used to calculate your rate.

Deduction risesFor Tax Year 2024, two deductions have doubled:

  • The Volunteer Deduction increases from $3,000 to $6,000 for qualifying volunteer firefighters, rescue squad workers, Hazmat team members, reserve police officers, and others. Claim on line j of the Individual Income Tax return.
  • The

    Subsistence Allowance Deduction

    increases from $8 to $16 for each regular workday for police and all commissioned law enforcement officers, full-time firefighters, and full-time emergency medical service personnel. Claim on line s of the Individual Income Tax return.
  • See the

    SC1040 Instructions

    for full details about deductions and exemptions you may be eligible to claim.

Keep in touch!

All season long, we’re offering filing advice at @theSCDOR. Additionally, our Instagram account is a great way to find out about upcoming Taxpayer Education events, job openings at our agency, and other information.

Visit dor.sc.gov/iit to access further tax season materials. For the most recent information, tools, and reminders, follow the SCDOR on Facebook, YouTube, and X (previously Twitter). You can also sign up for RevNews.

See also  Fort Mill Town Council Defers Mixed-Use Development, Prepares for Holiday Festivities, and Launches Beautification Initiative at November 11th Meeting

Leave a Reply

Your email address will not be published. Required fields are marked *