As we approach a new tax year, many taxpayers are wondering when they can start filing their 2023 taxes with TurboTax. While there is no definitive answer yet, knowing the key dates and deadlines for the upcoming tax season can help you plan better and get ahead of the game.
Important Dates to Keep in Mind
Here are some of the important dates to keep in mind for tax year 2023:
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January 1, 2023: The first day that you can start preparing and e-filing your federal income tax return for the previous year.
- Keep in mind that additional forms or schedules may not be available until later in January or early February.
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February/March 2023: Forms W-2 (for employees) and various 1099 forms (for contractors or freelancers) must be sent out by this time. You’ll need these documents to accurately file your taxes.
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April 15, 2024: This is typically the deadline for filing both federal income taxes and requesting an extension if needed. If April 15 falls on a weekend or holiday, then the deadline will be moved accordingly.
Tips for Preparing Your Taxes
Now that you know when you can start preparing your taxes using TurboTax online software here are some tips to make things easier:
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Gather all necessary documents such as income statements from employers/client’s(s)/partnership firm
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Review any potential deductions you might qualify for such as charitable donations or home office expenses
Valid Points:
With proper pre-planning before starting your actual data input entries into ‘TurboTax’ software helps reduce stress during Tax season; allowing plenty of time to gather important documents like receipts which could support deduction claims taken.
Overall utilizing ‘Turbo Tax’ software has made it easy for small businesses owner(s), self-employed, and everyday individuals to accurately file their taxes.
By preparing for these important deadlines and utilizing online tax software like TurboTax, you can stay on top of your taxes and maximize your chances of receiving refunds or minimizing tax debt owed.
FAQs
When will I be able to start filing my 2023 taxes on TurboTax?
Answer: Typically, you can begin preparing your tax return using TurboTax around mid-January each year. The exact date that the IRS begins accepting returns may vary from year to year, but once it does, you can begin e-filing your return through TurboTax.
Are there any important dates I should know related to 2023 taxes?
Answer: Yes, there are several important dates related to filing your 2023 tax return that you should keep in mind. For example:
January 1, 2024: This is the first day of the new tax season.
Mid-January (date TBD): Generally when TurboTax begins accepting and processing returns
April 15th (or the following Monday if it falls on a weekend): This is usually the deadline for individual taxpayers to file their federal income tax returns.
Note that these dates may vary slightly from year to year depending on weekends and holidays.
Can I file an extension for my 2023 taxes using TurboTax?
Answer: Yes – If by Tax Day (April 15) you realize that you need more time than expected, you’ll need to file Form IRS Form 4868 with the IRS by midnight of April 15th for an automatic six-month extension until October 17th. While this won’t extend the deadline for paying any owed taxes beyond April 15 so make sure estimate what’s due and send along payment as well or wait until gathering all necessary paperwork/documentation before estimating your extended payments later during summer/fall season.. Once completed electronically within Turbotax software package will be automatically submitted or else manually in hardcopy/email attachment direct to IRS, file the extension as soon as possible to avoid penalties for late filing.
