What You Need to Know About Remaining Tax Deadlines for 2023: When to File, Pay, and Request Extensions
The 2023 tax season came and went, but we are still left to deal with a number of tax deadlines in 2023. Because of natural disasters, extensions, and other reasons, such as late filing, some taxpayers haven’t filed their 2022 returns. Some, like businesses and hustlers, pay estimated taxes each quarter and submit payroll taxes. These all come with deadlines.
You may be wondering when you need to file your federal income tax return, pay any taxes you owe, or honor your requested extension in 2023. In this article, we provide some important dates and tips to keep in mind as you navigate this year for tax purposes.
When to file your tax return
The deadline to file federal tax returns for most Americans is April 18, 2023, due to April 15 being on a weekend and April 17 being recognized as a holiday in Washington, DC. However, some taxpayers may have different or later filing deadlines depending on their circumstances. For example:
- If you live in Alabama, California, or Georgia and were affected by the severe storms and flooding that occurred in March 2023, you have until October 16, 2023, to file your federal tax return and pay any taxes due.
- If you are a U.S. citizen or resident alien living and working outside the U.S. or Puerto Rico or serving in the military outside the U.S. or Puerto Rico on the regular due date of your return, you had until June 15, 2023, to file your federal tax return and pay any taxes due.
- Those who requested an automatic extension have until October 16, 2023, to file federal returns and pay taxes due.
You can check the IRS website for more information on filing deadlines for specific situations.
When to pay your taxes
Any taxes you owe are still due by the April 15 deadline each year. In 2023, the deadline was April 18. You can, however, pay at a later date if you qualify for a different or later payment deadline based on your circumstances (see above).
Unpaid balances may be penalized and accrue interest. You can pay your taxes online, by phone, by mail, or in person using various methods such as electronic funds withdrawal, credit or debit card, check or money order, cash, or IRS Direct Pay. You can also apply for an online payment agreement if you need more time to pay your taxes.
If you pay quarterly estimated taxes, your deadlines for tax year 2023 are: April 18, June 15, Sept. 15, or Jan. 16, 2024. If you fail to pay your estimated taxes by the deadline, you will be charged a penalty of 0.5% of your unpaid balance per month or partial month, up to a maximum of 25%, plus interest.
When to request an extension
If you need more time to file your tax return, you can request an automatic six-month extension by filing Form 4868, Application for Automatic Extension of Time To File U.S. Individual Income Tax Return, by the April 15 deadline (April 18 in 2023), or by the applicable deadline for your situation.
However, as you read this article, the above options are no longer applicable this year; but you can use this information to prepare for your 2023 tax return filing (to be filed in 2024). For now, if you have requested an extension to file, there will be no other extension granted after the October 16, 2023 deadline.
Please note that an extension of time to file does not extend the time to pay your taxes. You still need to pay at least 90% of your estimated tax liability by the April 15, 2024, deadline (or by the applicable deadline for your situation) to avoid penalties and interest. Use this information to prepare to file or pay your taxes owed during next year’s tax season.
There are various tools you can use to estimate taxes you will owe; for example, our Estimated Tax Calculator Workbook is a handy tool.
How to get help with your taxes
If you need help with preparing and filing your tax return, there are several free or low-cost options available to you. For example:
- You can use IRS Free File on IRS.gov to file your tax return electronically for free if your adjusted gross income is $72,000 or less.
- You can get free basic tax return preparation from IRS-certified volunteers through the Volunteer Income Tax Assistance (VITA) or Tax Counseling for the Elderly (TCE) programs if you are eligible based on your income, age, disability, or language.
- You can get free electronic filing of your federal tax return and up to three state tax returns through MilTax if you are a member of the armed forces or a qualifying veteran.
- You can use other tax software or hire a trusted tax professional to prepare and file your tax return for a fee.
You can also visit IRS.gov for more information and resources on various tax topics, such as credits and deductions, stimulus payments, identity protection, and more. You can also check the status of your refund online or by phone after you file your tax return.
HOWEVER: It is highly recommended to hire a trusted tax professional, especially if you work two jobs or more, or have more than one stream of income. This is because more streams of income are a recipe for complicated taxes, which easily lead to mistakes that result in IRS audits or penalties.
Thus, hiring a tax pro keeps you safe.
Conclusion
Tax season can be stressful, but it doesn’t have to be if you plan ahead and take advantage of the available options and assistance. By knowing the important dates and deadlines for filing, paying, and requesting extensions for your taxes, you can avoid unnecessary delays and penalties and get your refund faster. Remember to file electronically with direct deposit for the fastest and most secure way to receive your refund. And if you have any questions or concerns about your taxes, don’t hesitate to contact my office.
Frequently Asked Questions
- What is the extended due date for 2023?
The extended due date for 2023 is October 16, 2023. This is the deadline to file your 2022 federal income tax return if you requested an extension before the original due date of April 18, 2023.
- What is an extended deadline?
An extended deadline is a later date that you can file your tax return by, without incurring a failure-to-file penalty. However, an extension to file is not an extension to pay taxes. You still need to pay at least 90% of your tax liability by the original due date to avoid interest and penalties from the IRS.
- Can we file an extension after the deadline?
No, you cannot file an extension after the deadline. You must file your extension request no later than the regular due date of your return, which is April 18, 2023, for the 2022 tax year. If you miss the deadline, you will be subject to a failure-to-file penalty, which is usually 5% of the unpaid taxes for each month or part of a month that a tax return is late, up to a maximum of 25%.
- How do you ask for an extended deadline?
To ask for an extended deadline, you can use IRS Free File at IRS.gov/freefile to request an automatic filing extension or file Form 4868, Application for Automatic Extension of Time to File.
You will need basic information like name, address, Social Security number, estimated tax liability, and payment if you owe anything. You can also get an extension by electronically paying all or part of your estimated income tax due and indicating the payment is for an extension. A payment can be scheduled with Direct Pay using the Electronic Federal Tax Payment System (EFTPS) or with a credit or debit card.
