When Is Tax Season 2023 and Tax Day?

You may use Form 2848, Power of Attorney and Declaration of Representative for this purpose. Those who turned 72 years old in 2022 may need to take their first required minimum distribution, or RMD, by April 3, 2023. W-2 forms to employees who worked for them in 2022 by this date.

However, you may have a different deadline if you filed for an extension or if you are a corporation. Here’s a rundown of all the deadlines you need to keep track of. Filing an extension doesn’t push back your payment deadline, though. You still need to submit anything you owe on time to avoid late penalties.

Select a Tax Type

The IRS often postpones the tax filing deadline for taxpayers who live in or have a business within a federally declared disaster area. If you overpaid for the 2022 tax year, there’s typically no penalty for filing your tax return late. • Independent contractors, gig workers, and self-employed people usually have to make quarterly estimated tax payments are pre-set dates throughout the year. This is the date by which you must file your taxes with the IRS. Remember, a tax extension gives you more time to submit your return, not pay your taxes.

Some taxpayers may start preparing for a sizable tax refund—and others may come to the frightening realization that they’ll owe money. Regardless of how tax season has gone in years past, though, tax season 2023 will roll around soon enough, and with it plenty of reminders that it’s time to start filing your taxes. F you owe taxes, even if you can’t pay your tax season taxes on time, since the late filing penalties are generally significantly higher than the penalties for not paying taxes on time. Thus, e-file on time and pay as little or as much as you can afford. Use the PENALTYucator tool to find out what your potential tax penalties might be. If you have to pick, it’s better to file on time than to pay on time!

What If You Miss a Deadline?

If they want an additional four-month filing extension, they must submit an application by June 15. The IRS aims to send the majority of tax refunds to filers within three weeks of processing their tax return. But issues arise, and the timeline could be much longer if your return is missing information or the IRS system flags it for fraud. You might want to e-file your late return if you haven’t missed that deadline as well. Many taxpayers can e-file at IRS Free File if their AGIs were under $73,000.

An extension of time to file is not an extension of time to pay so you’ll owe interest if the tax you owe isn’t paid by the original due date of your return. You may also be subject to a late-payment penalty on any tax not paid by the original due date of your return. For more information about extensions, see Extension of Time to File, What Is the Due Date of My Federal Tax Return or Am I Eligible to Request an Extension? Most states require individual taxpayers to file their state income taxes by Tax Day. That’s easy to remember because it is the same deadline as the federal tax deadline. However, there are several states that impose different deadlines and nine states that have no income tax.