IRS Proclaims 2023 Tax Filing Season Start Date, Deadlines

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Breaking news: Tax season is finally almost here. The IRS announced Thursday that it can begin accepting and processing 2022 tax returns on Jan. 23.

In a news release, the agency said it predicts over 168 million individual income tax returns will probably be filed. It also promised higher customer support — namely, 1000’s of more phone reps and in-person staffers who can help taxpayers with their questions.

“While much work stays after several difficult years, we expect people to experience improvements this tax season,” Acting IRS Commissioner Doug O’Donnell said in the discharge. “That’s just the beginning as we work so as to add latest long-term transformation efforts that may make things even smoother in future years.”

The IRS has been through lots these days, struggling to take care of challenges posed by the pandemic lockdowns, the three rounds of COVID-19 stimulus checks, the expanded child tax credit, the backlog of paper returns and more. Coming into 2023, it’s attempting to clear the deck of any unprocessed returns while welcoming a brand new commissioner, Danny Werfel — who will lead the agency in spending $80 billion in funding over the subsequent decade (if he’s confirmed, that’s, and if GOP efforts to repeal the cash fail).

Here’s what that you must know in regards to the 2023 tax filing season.

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How early can I file taxes?

In theory, you possibly can file as soon as you feel ready — TurboTax, for instance, launched its suite of tools for the 2022 tax yr back in November. IRS Free File, which allows taxpayers under a certain income threshold to file their federal tax returns without spending a dime, opens Friday.

However the IRS won’t actually accept and process any income tax returns until Jan. 23. Until then, your return will just be held by your tax preparer.

You furthermore mght probably do not have all of the forms you wish yet. Forms like W-2s and 1099-NECs are imagined to be sent out by Jan. 31, though that doesn’t suggest you may definitely receive them by that date.

When are taxes due in 2023?

This yr, Tax Day is Tuesday, April 18.

Though the deadline to file taxes typically falls on April 15, the deadline is a number of days later than usual in 2023 on account of a calendar quirk. April 15 is a Saturday this yr, which might normally mean Tax Day would move to the next Monday (April 17). But that is when Emancipation Day — a vacation in Washington, D.C. — is being observed this yr. (It is also a state holiday, Patriots’ Day, in Maine and Massachusetts.)

So Tax Day 2023 is April 18… for most individuals. Your federal tax return likely is due that day unless you request an extension by submitting Form 4868 (which you’ll do electronically through Free File). But watch out: Regardless that getting a tax extension pushes back your deadline to Oct. 16, it doesn’t provide you with beyond regular time to pay any money you owe the IRS.

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How long will it take to get my tax refund?

The IRS issues most tax refunds inside 21 days, but it might take longer when you file on paper or your return requires extra attention. The agency can also’t distribute Earned Income Tax Credit and Additional Child Tax Credit refunds before mid-February.

“The IRS cautions taxpayers to not depend on receiving a 2022 federal tax refund by a certain date, especially when making major purchases or paying bills,” it wrote in a November news release. “Some returns may require additional review and will take longer.”

As at all times, the fastest option to get your tax refund is to do your taxes electronically and choose direct deposit because the delivery method. You’ll be able to track your tax refund with the Where’s My Refund? tool; have your Social Security or taxpayer ID number, filing status and refund amount able to enter.

Remember: Your tax refund will likely be smaller this yr than it was last yr because there weren’t any federal stimulus checks given out in 2022.

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