Taxes are due in 2023 when?
On January 23, 2023, the IRS started receiving and processing returns of taxes for the 2022 tax year. Tax Day, April 18, 2023, marked the last day to submit the federal tax return. Additionally, this was the last day to submit a Form 4868 to request the six-month tax extension.
The IRS will consider the paper return timely submitted if it was correctly addressed, had adequate postage, was postmarked, and was mailed by the deadline if you filed your return at the last minute. The date and hour in your time zone that your return was transmitted impacted whether it was timely for e-filers, according to the IRS.
Another set of dates apply to self-employed individuals and others who pay anticipated taxes. Four times a year, in January, April, June, and September, estimated taxes are routinely collected.
What if I didn’t file my taxes by the due date?
The IRS advises you to file as soon as possible in order to avoid penalties and interest if you didn’t submit your return by the April 18 taxes deadline and didn’t ask for a delay. You can set up a payment schedule with the IRS if you are unable to pay your tax obligation in full. There are no penalties for filing a refund claim beyond the due date, although you might want to do so fast to get the funds returned sooner.
If I sought a tax extension, when are the taxes due?
The deadline for filing your federal tax return, if you asked for one, is October 16, 2023. In order to be eligible for the extension, Form 4868 must be submitted by tax day (April 18). You have more time to file your taxes if you obtain a tax extension, but you do not have more time to pay them. You were required to pay any taxes you owed by the tax deadline, or a reliable estimation of that amount. Tax bills due after April 18 are subject to interest and penalties, which accumulate until your debt is paid.
It should be noted that Form 4868 was not necessary if you paid your tax bill in full or in part by the deadline with a debit/credit card, Direct Payments, or EFTPS and stated that the payment you made was for a tax extension. For your records, be sure to save the payment confirmation number.
Some people may be qualified for automatic extensions, such as select military personnel or those impacted by natural disasters.
Tax due dates and deadlines for 2023
Here are additional tax deadlines to be aware of, not all of which require keeping track of numbers with the IRS.
17 January
estimated tax obligations for the fourth quarter. For income generated between September 1, 2022, and December 31, 2022, this is the final day to pay estimated taxes. Typically applies to taxpayers who are self-employed and those whose withholding falls short of their tax obligations.
23 January
Tax season officially starts. On January 23, the IRS will start receiving and processing federal tax returns. No matter how early you file, the agency cannot give your refund until at least the middle of February if you claim certain credits, such as the tax credit for earned income or the extra child tax credit.
31 January
W-2 form due date. By this date, employers must mail or provide W-2 forms to workers who were employed by them in 2022.
1099 time limits. The 1099-NEC, 1099-K, and 1099-INT information returns, among others, must be issued or sent by January 31 per IRS regulations. For instance, if you received a particular amount of interest money in 2022 or you are a freelancer who earned at least $600 in non-employee revenue, you can anticipate receiving a document in the mail or in your email around this time explaining those earnings. After you file your taxes, you must refer to it.
15 February
Due date for Form W-4 for tax-exempt status. This is the deadline to submit a new Form W-4 to your employer if you were exempted from the withholding of taxes in 2022 and want to regain it for 2023.
Deadlines for 1099s (continued). An additional set of 1099 deadlines: By this date, recipients must receive informational returns such the 1099-Bs (for income derived from the sale of certain stocks) and specific 1099-MISC forms. Here are some details from the IRS on information returns.
April 3
RMD due date. The first imposed Minimum Distribution, as well as RMD, may be imposed by April 3, 2023, for those who turned 72 in 2022.
18 April: Tax Day
date for filing federal taxes. You have until this time to file your taxes with the IRS. Additionally, this is the cutoff for tax extension requests. Keep in mind that a tax extension only extends the period you have to file your return, not to pay your taxes. Even if you ask for an extension, you still have until April 18 to make the required tax payments.
Deadline for HSA and IRA contributions. the last day to contribute to your individual retirement account (Roth or conventional) or health savings account for the tax year 2022. Individual HSA contributions are limited to $3,650 in 2022, while family coverage is limited to $7,300. In 2022, the maximum contribution to an IRA is $6,000 ($7,000 if you’re 50 or older).
Taxes owed in the first quarter as estimated. Estimated tax payments for income received from January 1 through March 31 of the current year (2023) are due today.
June 15
taxes anticipated due in the second quarter. Tax payments for income generated from April 1, 2023, until May 31, 2023, are estimated and are due today.
15 September
Taxes owed in the third quarter as estimated. Tax payments for income received between June 1, 2023, and August 31, 2023, are estimated and are due today.
16 October
End date for tax extensions. If you request an extension by April 18, you have until October 16 to complete your taxes. The IRS will consider your return to be late if you miss this date, and penalties will increase.
31 December
Deadline for 401(k) contributions. The deadline to make a qualifying contribution to an employer-sponsored plan for retirement, such as a standard or Roth 401(k), is normally December 31. The maximum contribution for the 2023 tax year is $22,500 ($30,000 if you’re 50 or older).
RMD’s second due date. The deadline for taking RMDs is December 31; this rule also applies to people who took their first RMD in April.
What time do state income taxes become due?
Although there are few exceptions, state income tax due dates often coincide with federal deadlines. For instance, Virginians normally have until May 1 to submit their state returns.
A state tax extension request may be subject to different requirements. If a person’s tax extension is authorized, some states, including Illinois and Ohio, immediately extend the state tax return date to October 16, 2023. Some states could demand that taxpayers fill out an additional form or apply online. For more information, contact the tax and revenue authority in your state.
What states have extended the deadlines for filing federal taxes?
Due to natural catastrophes that FEMA has declared in 2023, ten states have delayed the due dates for reporting federal individual income, company, and quarterly taxes.
If your tax preparer lives in the impacted county and is unable to file or give your taxes as a consequence of the disaster, or if the tax documentation you need to finish the return or pay your taxes is situated in the disaster area, you may qualify for this relief even though, in general, only people who reside and businesses situated in counties ravaged by the storm are eligible.
For more information, visit the IRS’s page on disaster relief.
The impacted States, their counties, and the new deadline for filing taxes are shown below:
Alabama
counties of Tallapoosa, Autauga, Barbour, Chambers, Conecuh, Coosa, Dallas, Elmore, Greene, Hale, Mobile, Morgan, and Sumter.
Oct. 16, 2023.
Arkansas
counties of Cross, Lonoke, and Pulaski.
July 31, 2023.
California
Los Angeles, Madera, Mariposa, Mendocino, Merced, Mono, Nevada, Orange, Placer, Plumas, Sacramento, San Benito, San Bernardino, San Francisco, San Joaquin, San Mateo, San Luis Obispo, Santa Barbara, Santa Clara, Santa Cruz, Sierra, Sonoma, Stanislaus, Trinity, Tulare, Tuolumne, and Yuba counties are included in this list.
Oct. 16, 2023.
Florida
Miami-Dade County.
Aug. 15, 2023.
Georgia
County names include Butts, Crisp, Henry, Jasper, Meriwether, Newton, Pike, Spalding, and Troup.
Oct. 16, 2023.
Indiana
Lee, Lake, Monroe, Morgan, Owen, Sullivan, and White counties. Allen, Benton, Clinton, Grant, Howard, Johnson, and Johnson.
July 31, 2023.
Mississippi
counties of Carroll, Humphreys, Monroe, and Sharkey.
July 31, 2023.
New York
Suffolk, Erie, Genesee, Niagara, St. Lawrence counties.
May 15, 2023.
Oklahoma
Pottawatomie and McClain counties.
Aug. 31, 2023.
Tennessee
counties in the states of Cannon, Hardeman, Hardin, Haywood, Lewis, Macon, McNairy, Rutherford, Tipton, and Wayne.
July 31, 2023.
Note: State tax revenue websites in each state should be consulted for more information. State income tax return deadlines may not be extended.
4 tax strategies to think about before the upcoming tax deadline
1. Submit your 2019 tax return (2019, indeed).
You have until July 17, 2023 to file an old Form 1040 and get your refund if you were due one for the 2019 tax year but failed to submit a tax return. So get to work if you haven’t already! There are $1.5 billion in outstanding 2019 refunds, according to the IRS. If you miss the deadline in July, the US Treasury will hold your funds.
2. Maximize your 401(k) plan
Traditional 401(k) contributions lower your annual taxable income total. Consider that you earn $65,000 per year and contribute $10,000 to your 401(k). You will only be required to pay income taxes on $55,000 of your wage rather than the full $65,000 you earned. Saving for the future enables you to defer paying taxes on that $10,000 (and much more if you are 50 or older; learn more about 401(k) contribution limitations here). If you make enough contributions to your account, many employers may match a percentage of what you save, giving you access to free funds.
By December 31, 2023, you can make a contribution of up to $22,500 (or $30,000 if you’re 50 or older).
3. Fund an IRA or start one before tax day.
Tax deductions are available for traditional IRA contributions. You have until the filing deadline to make a regular or Roth IRA contribution for the 2023 tax year. In 2023, you can contribute a maximum of $6,500 to either form of IRA, or $7,500 if you’re over 50. Here are all the rules.
4. Make a deposit into your health savings account.
This medical account offers a tax-advantaged option to cover out-of-pocket expenses for people with high-deductible health plans. For the 2023 tax year, you have until the filing deadline to make an HSA contribution. For an individual HSA owner and a family, the 2023 limitations are $3,850 and $7,750, respectively. A further $1,000 can be added to your HSA if you are 55 years old or older.
