Every 2023 Tax Deadline You Need to Know

Every Tax Deadline You Need To Know

And remember, everyone’s tax situation is different, so if you have questions or concerns about your individual tax filing, it’s always best to speak with a tax expert. Set up or log in securely at IRS.gov/account to access personal tax account information including balance, payments, and tax records including adjusted gross income. Taxpayers generally will not need to wait for their 2020 return to be fully processed to file their 2021 tax returns and can file when they are ready. Rettig noted that IRS employees continue to work hard on critical areas affected by the pandemic, including processing of tax returns from last year and record levels of phone calls coming in.

January 16, 2024 is the fourth and final installment deadline for tax year 2023. If you fail to meet this deadline, you may be assessed a penalty when you file your tax return. Remember to check with your state to determine the process for filing a state tax return extension and your state’s extension deadline. As of March 25, nearly 58 million tax refunds had been issued in the 2022 filing season and the average payment was $3,263, which is about $400 more than the average refund for the 2021 filing season. Also, most tax experts say, the earlier you file, the faster you’ll get your refund — as long as you file electronically and request direct deposit.

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Whether you filed an extension due to missing tax documents, an unexpected life event or simply to allow your preparer more time to strategize, your 2021 federal income tax return must be filed by Oct. 17. Remember to check with your state to determine the process for filing a state tax return extension and your state’s extension deadline. If you filed Form 4868 for an extension, your 2022 federal income tax return will be due Oct. 16.

Every Tax Deadline You Need To Know

If you’re one of those procrastinators who still hasn’t filed your taxes, you’re not alone. We talked to Bay Area tax experts to understand exactly what the IRS has changed for this year’s filing and what has stayed the same — and to debunk some of those tax rumors, too. Individuals can use a bank account, prepaid debit card or mobile app to use direct deposit and will need to provide routing and account numbers. Learn how to open an account at an FDIC-Insured bank or through the National Credit Union Locator Tool. Your employer has until January 31 to place your W–2 form in the mail.

Video: Remember These Key Dates and Deadlines for Tax Year 2022

For the 2024 tax year, the most you can contribute is $23,000 ($30,500 if you’re 50 or older). If you didn’t file a tax return in 2020 but would have been due a refund if you had, this is the last day to submit a 2020 tax return tax season to recoup those unclaimed funds. The IRS estimates that over $1 billion in funds remain unclaimed. Thanks to a recent change in tax law, required minimum distributions (RMDs) from IRAs no longer have to be taken until age 73.

Be sure to check “Yes” or “No” to the question that asks whether at any time during 2021, you received, sold, exchanged or disposed of any financial interest in any virtual currency. Make sure you have all documents related to your taxable income on hand before starting to fill out your return. You may have had multiple jobs and several W-2 or 1099-MISC forms reporting your wages and/or self-employment income. You can prevent mistakes by learning the facts and gathering some helpful tips before you get started.

Every 2023 Tax Deadline You Need to Know

The Internal Revenue Service begins accepting and processing 2021 tax returns on Jan. 24. Experts, however, say processing time and refunds may be delayed this year due to still unprocessed 2020 returns and pandemic-related issues. The good news is you have extra time to file your taxes this year. The federal tax-filing deadline is Monday, April 18, for most taxpayers, not the traditional April 15 date. The later date is due to the Emancipation Day holiday in the District of Columbia.

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