Tax season can be a stressful time, but with proper planning and awareness of deadlines, you can avoid any penalties or missed opportunities for tax savings. Here are the key dates and deadlines to keep in mind when filing your 2023 taxes:
January-April
- January 1: Tax year officially begins
- January 31: Deadline for employers to send out W-2s and contractors receiving more than $600 will receive a Form 1099-MISC
- April 18: Due date for federal income tax returns if you file electronically by April 18 (the traditional April deadline moves due to Emancipation Day, which is observed on Friday, April 14 in Washington D.C.)
June
- June 15: Deadline for estimated payments (if applicable)
October
- October 16: Automatic extension deadline
While these are the main dates that taxpayers need to remember when it comes to filings their taxes in the year ahead. It’s always important to stay informed about any changes made by IRS such as new tax laws passed by congress or economic stimulus measures that may affect your personal finances.
If you’re working with an accountant or financial planner, they can guide you through the process of preparing and submitting your taxes. And don’t forget – timely filing could save you money on interest and late payment fees!
By staying organized throughout the year leading up to next year’s tax season, keeping track of receipts and other relevant documents, it’ll make filing much easier come next spring.
Remember: informational articles like this one should not replace personalized advice from qualified professionals – so make sure consult them if you have questions specific to your situation!
Stay tuned for more tips later this year – we’ll be here every step of the way as you navigate the world of personal finance!
FAQs
Q1. When is the deadline for filing my 2023 federal income tax return?
A1. The deadline for filing your 2023 federal income tax return is April 17, 2024. If you need more time to file, you can request an extension by filling out Form 4868 before the deadline.
Q2. When will I receive my W-2 form from my employer for the 2023 tax year?
A2. Your employer must provide you with a W-2 form by January 31, 2024, which shows your total earnings and taxes withheld during the previous year.
Q3. What are the deadlines for making estimated tax payments in 2023?
A3. For individuals who pay quarterly estimated taxes, these are the key dates and deadlines:
– First quarter: April 17, 2024
– Second quarter: June15, 2024
– Third quarter : September 15 , 2024
– Fourth quarter: January 17 , TBD (but likely Jan.16 or Jan18th),
Note that if any of these dates fall on a weekend or holiday observed by the IRS, then the due date is pushed back to the next business day
FAQs
**H3: When is the Earliest I Can File My 2024 Taxes?**
Answer: You can start gathering your tax documents and using tax software as early as January 2024. However, you cannot actually file your tax return before the IRS begins accepting returns, which is typically in late January.
**H3: What is the Deadline to File My 2024 Taxes?**
Answer: The standard deadline to file your 2024 federal tax return is April 15, 2025. However, if you cannot file by this date, you may be able to request an extension.
**H3: Do I Get a Penalty for Filing Late in 2024?**
Answer: Yes, if you file your tax return after the deadline without an extension, you may be subject to a late filing penalty. The penalty amount depends on your filing status and how late your return is. Also, if you owe taxes and don’t pay them by the deadline, there’s an additional penalty for underpaying taxes. The penalty rates and rules can change, so it’s essential to check the latest IRS guidelines