Hi, I’m Bette Hochberger, CPA, CGMA. The 2023 tax season has officially begun, so I will discuss the deadlines to file your 2022 taxes today. As we are already heading into March, by now, you should have all of your W-2 and/or 1099 forms from your employers and are ready to file.

 

For individuals, the last day to file your 2022 taxes without an extension is April 18th, 2023 (unless it is extended because of a state holiday). If you are a small business, your tax return is also due April 18th – but Multimember LLCs, S-Corporations, and partnerships must file tax returns by March 15th, 2023. 

Every Tax Deadline You Need to Know:

  • April 3rd, 2023: RMD (required minimum distribution) due if you turn 72 in 2022. 
  • April 18th, 2023:
    • Tax returns are due. Missing the tax deadline can have consequences, including penalties and interest. 
    • Deadline to file Form 4868 and request an extension. If you aren’t ready to file your tax return by the return deadline, make sure you complete an extension request instead, allowing you to delay filing a completed return until October 16, 2023. Remember that even if you choose to file an extension, you are still required to pay any taxes you may owe by the April deadline.
    • Deadline to make IRA and HSA contributions for the 2022 tax year. After this date, you generally cannot make contributions for the prior tax year.
    • First quarter 2023 estimated tax payment due. Making estimated tax payments means estimating how much income you will likely make for the year and determining how much you will owe to the IRS for income taxes. You can use Form 1040-ES to calculate how much tax liability you’ll have for the year. If you overestimated how much tax liability you’d owe for a year and are due a refund, you can choose to receive that money now or transfer it to the following year’s quarterly tax payments.
  • June 15th, 2023: Second quarter 2023 estimated tax payment due. 
  • September 15th, 2023: 
    • Third quarter 2023 estimated tax payment due.
    • Deadline for extended partnerships and S-Corporation returns 
  • October 16th, 2023: If you filed an extension, this is the due date for filing your tax return.
  • December 31st, 2023: RMDs (required minimum distributions) must be taken for individuals 73 or older.
  • January 15th, 2024: Fourth quarter estimated tax payment due.

If you have already filed and are expecting a refund, the IRS has stated that most refunds are issued in less than 21 days. Earned Income Tax Credit refunds will most likely be refunded even earlier when filed electronically. If you filed paper, it might take longer. Want to learn more about your refund and your filing status? Check out the “Where’s My Refund” page on the IRS’s website. 

If you are stressed about filing your taxes and are seeking help, I am always one click away. You can schedule a meeting with me through my website. 

As always, stay safe, and I will see you next time.