Certain Dates for Filing Federal Income Tax Returns in 2023

Certain Dates for Filing Federal Income Tax Returns in 2023

Important Deadlines to Remember for Filing Your Tax Return and Making Payments for the Year 2021:

The time of year when taxes need to be filed can be a stressful experience, but if you plan ahead, the process can go much more smoothly.

Although the legal deadline for filing your federal income tax return each year is typically the 15th of April, this date is not set in stone and can change at any time. When April 15 falls on a weekend or a day that is recognized as a national holiday, the deadline is moved to the first available business day after that date. Other national events may also cause the deadline to be moved. For instance, the last day to file your taxes by the year 2022 is April 18th (or April 19 if you live in Maine or Massachusetts).

You can start submitting your taxes as soon as you have all of the essential information gathered, despite the fact that the Internal Revenue Service (IRS) does not normally begin processing tax returns until the latter part of January of each year. In this article, you will learn all of the important dates for 2022 that you need to know to make sure that filing your taxes is as easy and smooth as possible.

2022 Tax Filing Deadlines

When it comes to filing taxes, the various deadlines often fall within the same broad range. The following calendar dates are important to keep in mind when it comes time to file your tax return for the year 2021.

  • Once You Have Obtained Your W-2 Form: Your employer has until January 31st, 2022 to provide you with the W-2 form that reports your earnings for the year 2021. Also, most 1099 forms for independent contractors have to be sent to them by this date.
  • Returns on income tax filed by individuals The celebration of Emancipation Day in Washington, DC, on April 15, 2022, causes the city’s businesses and government offices to be closed, despite the fact that this date falls on a weekday that year. Therefore, you have until Monday, April 18, 2022, to file your personal tax return for the year 2021, which is either a Form 1040 or a Form 1040-SR (April 19 if you live in Maine or Massachusetts).
  • Returns for partnerships and S corporations are filed using IRS Form 1065 and IRS Form 1120-S, respectively.
  • The general due date for tax returns filed by partnerships and S-corporations is March 15th. However, if you ask for an automatic six-month extension, the due date will be pushed back to September 15.

Returns of corporation income tax (Internal Revenue Service Form 1120): The date of submission is April 18th, 2022 for corporate filings. The new date for the deadline is October 17th, 2022. If a corporation uses a fiscal year rather than a calendar year, the deadline for C-corporation returns is normally the 15th day of the fourth month following the conclusion of the corporation’s fiscal year. This is the case even if the corporation runs on a calendar year.

The calendar for the Internal Revenue Service in 2022 does not include filing dates or deadlines for estate taxes, gift taxes, trusts, exempt organizations, some types of companies, foreign partnerships, nonresident aliens, or other categories of taxpayers. To determine whether or not you are required to file a return because of one of these circumstances, visit the website of the IRS and look up the relevant page.

Dates for each of the upcoming tax deadlines in 2022:

If you’d rather just flick through and write these crucial dates in your calendar, here they are arranged in chronological order for your convenience. They give you some additional due dates for you to consider, which may or may not apply to you.

From January to March

  • The deadline for employees to submit their December tip money to their employers on Form 4070 is January 10, 2022, if they earned more than $20 in tips during the month of December.
  • The deadline to pay the projected tax payment for the fourth quarter of the fiscal year 2021 is January 18, 2022.
  • Your employer has until the 31st of January to provide you with the W-2 form that reports your earnings for the year 2021. Also, most 1099 forms for independent contractors have to be sent to them by this date.
  • The deadline for employees to disclose their January tip money to their employers will be February 10, 2022, if they earned more than $20 in tips during the month of January. You can use Form 1070 to do so.
  • The deadline for financial institutions to mail out Form 1099-B relating to sales of stock, bonds, or mutual funds through a brokerage account is February 15, 2022. This deadline also applies to Form 1099-S relating to real estate transactions as well as Form 1099-MISC, unless the sender is reporting payments in boxes 8 or 10.
  • The Internal Revenue Service has set February 28, 2022, as the last day for businesses to send in their Forms 1099 and 1096.
  • The deadline for individual income tax returns to be filed by farmers and fishermen is March 1, 2022, unless those taxpayers have already paid their 2021 estimated tax by January 18, 2022.
  • The deadline for employees to report their February tip money to their employers is set for March 10, 2022. This deadline is for workers who got more than $20 in tips in February.
  • the deadline to file corporate tax returns (Forms 1120, 1120-A, and 1120-S) for the tax year 2021; or to request an automatic six-month extension of time to file (Form 7004) for corporations that use the calendar year as their tax year; and the deadline to file partnership tax returns (Form 1065) for corporations that use the calendar year as their tax year Individual tax returns (Form 7004) must be filed by March 15, 2022.
  • The deadline for businesses to electronically file Forms 1099 and 1098 with the IRS is March 31, 2022, with the exception of Form 1099-NEC.

The tax filing deadlines range from April to June.

  • The deadline for employees to disclose their March tip money to their employers will be April 11, 2022, if they earned more than $20 in tips during the month of March.
  • The deadline for home employers who paid $2,300 or more in wages in 2021 to file Schedule H for Form 1040 is April 18, 2022. This deadline applies to those who have paid wages.
  • By this date (18 April 2022), all people are required to have submitted their personal tax returns for 2021, often known as Form 1040 or Form 1040-SR. This is also the last day you can file a request for an automatic extension (using Form 4868) that will give you an additional six months to file your return and pay any taxes that are owed.
  • If you live in Maine or Massachusetts, you have until April 19, 2022, to file your individual tax return for the tax year 2021.
  • The deadline for employees to report their April tip money to their employers is set for May 10, 2022. This deadline is for workers who got more than $20 in tips in April.
  • The deadline for employees to report their May tip money to their employers is set for June 10, 2022. This is the deadline for workers who got more than $20 in tips in the month of May.
  • The deadline for making payments of estimated taxes for the second quarter of the 2021 tax year is the 15th of June 2022.
  • For U.S. citizens living outside the country, the last day to file individual tax returns or send in Form 4868 to get an automatic four-month extension is June 15, 2022.

Due Dates for the Due Dates of Taxes: July through September

  • The deadline for employees to disclose their June tip income to their employers will be July 11, 2022, if they earned more than $20 in tips during the month of June.
  • The deadline for employees to report their July tip money to their employers is set for August 10, 2022. This deadline is for workers who got more than $20 in tips in the month of July.
  • The deadline for employees to report their August tip money to their employers is set for September 12, 2022. This deadline is for workers who got more than $20 in tips in August.
  • The deadline for making third-quarter projected tax payments for the 2021 tax year is the 15th of September, 2022.
  • If an extension was sought, the tax returns for partnerships and S corporations for the year 2021 must be submitted by the end of the day on September 15, 2022. (Forms 1065 and 1120-S).

October through December are the due dates for taxes.

  • The deadline for employees to disclose their September tip money to their employers will be October 11, 2022, if they earned more than $20 in tips during the month of September.
  • The final extended deadline to file individual and business tax returns for the year 2021 using Form 1040 and Form 1120 is October 17, 2022. This deadline applies only if an extension has been previously requested.
  • The deadline for qualified taxpayers who earned $73,000 or less in adjusted gross income (AGI) for the tax year 2021 to use Free Submit to prepare and file their forms is October 17, 2022. The term “adjusted gross income” is another way of saying “total income.”
  • Employees who got more than $20 in tips during the month of October have to tell their employers about this income by November 10, 2022.
  • The deadline for employees to disclose their November tip money to their employers will be December 12, 2022, if they earned more than $20 in tips during the month of November.
  • The deadline for companies that need to file their fourth installment of anticipated income tax for 2022 is set for December 15th, 2022.

What Happens if You Don’t Meet a Deadline?

If you miss the deadline for filing your tax return and making any payment that is due, you will most certainly be subject to a monetary penalty, such as an additional interest charge. This is the case regardless of whether or not you submit payment. There are two primary punishments that could be imposed on you:

  • Penalty for failure to submit returns This penalty for 1040 forms is 5 percent of the tax payable per month as of the tax year 2021, up to a ceiling of 25 percent overall, with extra costs piling up after 60 days have passed.
  • The penalty for nonpayment is as follows: This penalty is equal to 0.5 percent of the amount of tax that remains unpaid from the date that the return was due until the tax is paid in full, up to a maximum of 25 percent of the amount of tax. This penalty begins accruing on the date that the return was due and continues until the tax is paid in full.

If both of these penalties are assessed, the amount of the failure-to-file penalty for a given month will be subtracted from the amount of the failure-to-pay penalty for that month. Failure to pay penalties are reduced to 0.25% per month if you are enrolled in a payment plan. This reduction takes effect for the duration of the payment plan schedule. If you do not pay the taxes you owe within 10 days of receiving notice from the IRS that it intends to collect your wages or bank account, the IRS will assess a 1 percent per month failure-to-pay penalty against you.

In most cases, interest will begin to accrue on any unpaid taxes on the due date of the tax return and continue until the date that the taxes are paid in full. If you don’t file your tax return by the deadline, the Internal Revenue Service (IRS) says you should do it as soon as you can to avoid penalties and extra costs.

The Step-by-Step Guide to Filing Your Tax Return Electronically

If you haven’t already missed the deadline for that as well, you should think about filing your late return electronically. If a taxpayer’s adjusted gross income was less than $73,000 in 2021, then they may be eligible to e-file their taxes using the IRS Free File program. The individual software developers that are members of the Free File Alliance are the ones who decide which additional rules are applicable to their particular products. 

The IRS will continue to accept tax returns submitted electronically through November. At some point in October 2022, an announcement regarding the precise November cutoff date will be made.

What Should You Do If You Are Unable to Pay Your Taxes?

You should still file your tax return, even if you are unable to pay your taxes for one reason or another, and you should promptly ask for a payment plan. As long as you make the appropriate arrangements, the IRS will typically allow you to make payments at a later date.

If you owe money to the IRS but do not want to send a check to them through the mail, you can go to the IRS Direct Pay website instead, where you can arrange to have tax payments taken straight from your bank account. In the long run, this could end up saving you both time and money.

Questions That Are Typically Asked (FAQs)

What are the repercussions of missing the deadline for payment of estimated taxes?

If you end up owing less than $1,000 for the year’s quarterly estimated taxes and if you settle that tax liability with your annual returns, you might not be subject to any penalty for missing a payment during the year. This is the case if you settle that tax debt with your annual returns. If you don’t make the quarterly payment when it’s due, you’ll be subject to interest charges until then.

It is not clear whether taxes on inheritance are due on the date of the person’s death or when the inheritance is given.

Although there is a federal estate tax, several states also have inheritance taxes; the federal government only has an estate tax. Instead of being levied against the people who actually benefit from an inheritance from an estate, estate taxes are paid by the estate itself. The date of death doesn’t have to be the same as when estate taxes are due. However, these taxes will have already been figured out by the time an heir legally gets assets.

How may the date that taxes are due to be extended?

By submitting IRS Form 4868, taxpayers have the ability to request an extension for filing their income tax returns. The extension request needs to be submitted by tax day, which is usually on April 15 each year. The day of taxes will be April 18th, 2022. April 19 (or April 18 if you live in Maine or Massachusetts).

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