Author Alan Bianco
Posted Feb 9, 2023
Are you feeling overwhelmed by the clock ticking down to income tax filing deadlines? Don't worry, we all feel that way from time to time! Understanding your income tax deadlines is essential for any taxpayer and can save you a lot of stress and money. With this comprehensive guide, you'll learn everything you need to know about when your taxes are due so that you can stay compliant with the government's regulations.
Income taxes are an important part of modern life and are used by governments to raise funds for public services. In addition to being responsible for paying income taxes, taxpayers must also ensure that their returns are filed in a timely manner. Understanding the income tax filing deadlines is essential if you want to avoid hefty fines and penalties from the IRS.
This guide will help you understand the different types of filing deadlines and provide tips on how to make sure that your taxes are filed accurately and on time. Whether you're a new taxpayer or an experienced one, this guide will give you all the information needed to make sure that your taxes are filed correctly before their deadlines.
Beating the Clock: Income Tax Filing Deadlines
Filing taxes typically fall within a general range of dates. For individual income tax returns, April 15 is the usual deadline for filing; however, if this date falls on a weekend or holiday then the filing deadline is moved to the next available business day. For example, in 2023 Emancipation Day in Washington DC is causing April 18 to be the filing deadline for individual income tax returns.
In most cases, you need your W-2 form reporting earnings from an employer before you can file your taxes. However, 1099 forms are also used by independent contractors and other self-employed individuals as documentation of their income when completing and filing their taxes. Additionally, S-Corporation Returns (IRS Form 1065) and IRS Form 1120-S generally have a due date of March 15. If that date falls on a weekend or holiday then it will be automatically extended to the 15th day of the following month — making the new due date April 15th in 2023.
Finally, C-Corp Returns (IRS Form 1120) are due on the 15th day of the fourth month after when a corporation operates its fiscal year — which may not always be a calendar year — and in most cases these returns are also subject to an automatic six-month extension until September 15th. It's always important to keep track of these deadlines so that you can avoid any late filings and possible penalties with the IRS.
Are You Ready for the 2023 IRS Calendar? The Internal Revenue Service (IRS) releases an updated calendar each year that includes important filing dates. From estate taxes and gift taxes to trusts, exempt organizations, corporations, foreign partnerships, and nonresident aliens - the calendar should be consulted to make sure you don’t miss important deadlines. All of this information is available on a specific page on the IRS website. Make sure to bookmark it now so you don't miss out!
Easily File Your Tax Return Electronically
The deadline for filing income tax returns is fast approaching, and it’s important to file on time to avoid the penalties associated with late returns. For those looking for a convenient way to get their taxes done, electronic filing may be the best option.
The IRS offers free e-filing software through its Free File Alliance, and there are also a variety of individual software providers who accept e-filed returns. It’s important to note that each provider will have an exact November cutoff date when they stop accepting e-filed returns, so it's crucial to know the right date in order to ensure your return is filed on time.
Maximize Your Tax Refund Now
It's tax season and there are income tax deadlines you must not miss. Maximize your refund by using TurboTax Free Edition to answer simple questions quickly and accurately. The free edition is designed for simple tax returns, making it easier than ever to file and get the biggest return possible!
Looking for more information?
It's important to know the income tax deadlines so that you can make smart financial decisions. January 1 is the deadline for many tax tips and top 8 year-end tax tips, including filing an income tax extension or estimating federal withholding. So what are some of the 9 things you need to know? First, review your W-4 Withholding Form and use the Taxcaster tax calculator to estimate your taxes. You should also review any video documents needed to file your income taxes, such as a W-2, 1099 or amended tax return. Additionally, you can use our Tax Bracket Calculator to easily calculate your tax rate. Next, review your W-4 Withholding Calculator and TurboTax Customer IM to get a bigger refund. Self-employed individuals can consult our Self-Employment Tax Calculator for additional deductions and surprises. And finally, if you made charitable donations or had cryptocurrency sales, use our Crypto Calculator and Self-Employed Tax Deductions Calculator to find deductions. For 1099 contractors, freelancers or creators of side gigs, our Self-Employment Tax calculator can help you avoid any surprises!
Unable to Cover Tax Payments? Here's What You Can Do
If you're unable to cover your income tax payments by their due date, don't panic. You should immediately apply for a payment plan or make arrangements with the IRS to help you manage the situation. This is a common problem, and there are several options available that can help you avoid penalties, interest charges and other complications. Take some time to explore these options and get the guidance you need.
With income tax deadlines looming, it pays to be prepared. To make sure you don't miss the deadline and owe money to the IRS, one of the best things you can do is set up a payment plan with IRS Direct Pay. With this service, your tax payments are withdrawn directly from your bank account – no more worrying about snail mail being delivered on time! In the long run, this can save you time, energy and money. So don't wait until it's too late: set up your IRS Direct Pay today and make sure you don't miss another important tax deadline!
Discover the Crucial Tax Deadlines
Staying on top of important tax deadlines is essential for filing taxes correctly and avoiding penalties. Knowing the dates in chronological order associated with income taxes can help you save time and money. It's important to note that there are additional to-do-by dates throughout the year other than April 15th, so it's important to keep track of these important dates.
1. Tax Deadlines: January to March
January marks the start of income tax deadlines for the Tax Year 2022. On Jan 10 2023, all forms 4070 (for tip income) must be filed by their respective due dates. To keep in line with the Jan 17 2023 deadline, those who wish to make their fourth-quarter estimated tax payments should do so by then. The last day of January - Jan 31 2023 - is an important date as it marks the deadline for employers to W-2 form reporting of 2022 earnings. Also, on this day independent contractors must file 1099 forms reporting any payments with boxes 8 and 14 filled out correctly.
The following month brings another cluster of deadlines starting with Feb 10 2023 where all forms 1070 for tip income must be mailed in by this date. Additionally, financial institutions must file Form 1099-B relating to stock bonds and mutual funds held in a brokerage account and Form 1099-S relating to real estate transactions on Feb 15 2023. All other Form 1099-MISC needs to be reported by Feb 28 2023 if there were any payments made which require reporting in Boxes 8 or 14.
Finally, March 1 2023 marks the deadline to file individual income tax returns as well as paid 2022 estimated tax if applicable while Jan 18 2023 is when corporations need to file their 2021 taxes otherwise they get automatically extended until March 15 2023. Furthermore, partnerships have until March 31st to e-file their Forms 1099 and Form 1099 NEC along with filing partnership tax returns Form 1065 by that day in order to avoid any penalties or late fees applied due to an automatic six-month extension if they choose not to file form 7004 before then.
2. Tax Deadlines: April to June
April 10, 2023 marks the deadline for filing your 2022 personal tax returns and paying any taxes due. This includes filing Form 1040, Form 1040-SR, or other forms that you may need depending on your income. If you are unable to meet this deadline, filing an automatic extension form 4868 is recommended to avoid any penalties.
Household employers should also take note of the April 18, 2023 deadline to file Schedule H with their individual tax return and pay any employment taxes due. Additionally, those who receive tip income should ensure they file their federal income tax return or Form 1099-MISC by June 12, 2023.
Finally, individuals who owe second-quarter estimated tax payments for the 2022 tax year must do so by June 15, 2023. This date also applies to citizens living abroad who are required to file individual tax returns as well as file Form 4868 for an automatic four-month extension.
3. Tax Deadlines: July to September
Taxpayers have important dates to keep in mind when filing income taxes for the 2022 tax year. July 10, 2023 is the deadline to file tip income as well as the deadline to pay third-quarter estimated tax payments. August 10, 2023 is also a key date to remember, as it is the deadline to file partnership and S-corporation tax returns. Finally, September 11, 2023 is the final deadline for tip income, and September 15, 2023 is the final deadline for all other taxes due for the 2022 tax year including requested Forms 1065. Missing any of these deadlines can result in costly penalties and interest. Be sure to mark your calendar with these key dates so you don’t miss out on any important opportunities!
Frequently Asked Questions
When is the deadline to file federal tax returns?
The annual deadline to file federal tax returns is April 15th, 2021. For more information on filing your taxes, visit the Internal Revenue Service website.
When should I file for a tax extension?
Filing for a tax extension is the best way to ensure you have plenty of time to file your taxes accurately and avoid any penalties. With an IRS deadline of April 15th, filing for a tax extension will provide you 6 more months to get your taxes in order. Get started today!
What is the tax deadline for 2022?
The 2022 tax deadline is April 18th, 2022. To ensure you file on time, it's best to start preparing now with the latest tax information and updates.
Can you file taxes after the deadline?
Unfortunately, the deadline for filing taxes has already passed. However, if you have missed the deadline, you may be able to file for an extension or request a penalty waiver. Learn more about filing taxes after the deadline here.
When are tax returns due?
Tax returns for the 2019 tax year are due by April 15, 2020. Find out more about filing taxes this year and get helpful tips to make sure you file on time!