Tax filing season has been underway since January 23, when the IRS began accepting and processing returns. More than 36 million federal tax returns have already been filed, according to the IRS.
Don’t worry, though, if you haven’t filed your tax return yet. You still have plenty of time. Here’s what you need to know about the tax deadlines for 2023. Mark these dates in your calendar to avoid missing any deadlines.
What is the federal tax deadline for 2023?
The deadline to submit 2022 federal tax returns is April 18, 2023.
The filing deadline to submit federal tax returns typically is April 15. However, taxpayers have three extra days this year to send in their returns. April 15 falls on a Saturday this year. Because the District of Columbia Emancipation Day falls on April 17 and is considered a federal holiday, the tax deadline is Tuesday, April 18, 2023.
However, the deadline is extended until October 16, 2023, for taxpayers impacted by winter storms in most of California and severe storms and tornadoes in parts of Alabama and Georgia.
What is the tax deadline if you file for an extension?
If you can’t finish your federal tax return by April 18, you can apply for an extension by filling out Form 4868. This will push the deadline for filing a return back to October 16, 2023. However, it doesn’t grant you an extension to pay your taxes. If you owe money, you must estimate the amount that is due and pay it by the filing deadline of April 18.
When are state taxes due?
State income tax returns are due on April 18, 2023, in most states with a state income tax. However, there are a few exceptions.
- California: Individuals in counties impacted by winter storms have until May 15, 2023, to file state tax returns.
- Delaware: May 1, 2023
- Hawaii: April 20, 2023
- Iowa: May 1, 2023
- Louisiana: May 15, 2023
- Virginia: May 1, 2023
Should I file my taxes early?
You should start preparing your tax return as soon as you receive W-2s, 1099s and other forms you need to complete your return. If you discover you are missing forms, you have time to track them down before the filing deadline if you’ve gotten an early start on preparing your return.
The sooner you prepare your return, the sooner you can find out whether you’re getting a refund. Filing your return electronically and opting for direct deposit is the fastest way to get your refund. The IRS offers free tax preparation and filing software for taxpayers with adjusted gross income of $73,000 or less.
If you discover that you owe taxes, you don’t have to file your return and make a payment until April 18. However, figuring out what you owe as soon as possible will give you time to come up with the payment.
What happens if I miss the tax deadline?
There is no penalty for filing a tax return after the deadline if you don’t owe taxes or if you are owed a refund.
If you owe taxes and don’t pay by the tax filing deadline, the amount owed but not paid is subject to interest and penalties. So it’s important to pay as much as you can by the filing deadline to reduce the interest and penalties you’ll have to pay. You can then apply for an IRS payment plan or installment agreement to pay off your outstanding balance over time.
If you can’t afford to pay what you owe, you might qualify for an offer in compromise to settle your tax debt for less than the full amount owed. The IRS has a tool you can use to see if you qualify for an offer in compromise.
When are tax refunds sent?
The IRS expects that most taxpayers who file their returns electronically and opt for direct deposit will receive a refund within 21 days of filing. Using direct deposit is the fastest, safest way to receive a refund.
It can take longer to receive a refund if you file a paper return or request a check rather than direct deposit. Refunds also can take longer for tax returns that have mistakes or require additional review.
Taxpayers can check the status of their refunds by using the Where’s My Refund? tool at IRS.gov. To use the tool, you’ll need your Social Security number, filing status and your refund amount.
What are the deadlines for estimated tax payments?
You might have to make estimated tax payments if you are self-employed, have income that isn’t from an employer such as investment income or don’t have enough income tax withheld from your salary or pension payments. If you don’t make payments throughout the year, you may be subject to an estimated tax penalty when you file your tax return.
Estimated tax payments must be made each quarter. Payments for the first three quarters of 2023 are due on April 18, June 15 and September 15. The fourth quarter payment is due on January 15, 2024. Payments can be made by phone, mail or electronically through IRS Direct Pay. The amount owed can be figured using Form 1040-ES.
Key tax deadlines in 2023
Taxpayers need to be aware of these tax filing due dates in 2023.
- January 16, 2023: Fourth quarter 2022 estimated tax payment due
- January 23, 2023: IRS begins accepting 2022 tax returns
- April 18, 2023: Tax filing deadline for federal income tax returns
- April 18, 2023: Deadline to file Form 4868 to request a tax filing extension
- April 18, 2023: First quarter 2023 estimated tax payment due
- June 15, 2023: Second quarter 2023 estimated tax payment due
- September 15, 2023: Third quarter 2023 estimated tax payment due
- October 16, 2023: Deadline to file a 2022 tax return if you filed for an extension
- January 15, 2024: Fourth quarter 2023 estimated tax payment due