When is Tax Day 2023?

The deadline for filing your 2022 taxes is April 18, 2023.The IRS began accepting and processing 2022 tax returns toward the end of January.

Given the rule changes going into effect in 2023, taxpayers have even more incentive to get moving on their 2022 returns.

Can I file an extension?

As in past years, you can request an extension if you need more time to prepare and file your 2022 return. On or before the April 18, 2023, deadline, you must fill out and submit Form 4868, the Application for Automatic Extension of Time to File U.S. Individual Income Tax Return. At the time you file Form 4868, you must also pay the estimated income tax you owe to avoid penalties and interest, the IRS says.

Generally, taxpayers are granted an automatic six-month extension to file, or two months if they’re out of the country, in which case the extension also applies to payment of taxes owed. (If you’re in the latter situation — in other words, you’re living outside of the United States and Puerto Rico — you can get another four months, provided you request them by the new due date you were assigned with your original two-month extension.)

To qualify for an extension, you must file Form 4868 before April 18, 2023. You will not be notified unless your request is denied.

When are taxes due if I file an extension?

If you file Form 4868 and receive the automatic six-month extension, you will have until Oct. 16, 2023, to submit your 2022 tax return.

If you already know that you’ll need an extension, plan on filing Form 4868 sooner rather than later. That way, if anything goes wrong with your application, you’ll have plenty of time to fix any errors and resubmit it ahead of the April 18 tax deadline. This also ensures you have time to get your documents together for your extended deadline in October. The IRS website has all the forms, deadlines and information you’ll need.

When are estimated taxes due in 2023?

Those who pay estimated taxes have a slightly different filing schedule than everyone else. People who pay quarterly estimated taxes include the self-employed, as well as those who work similar entrepreneurial or independent contractor jobs. If your paycheck doesn’t have income taxes taken out before the money gets to you, then this requirement applies to you.

Estimated taxes are due quarterly and must be submitted with Form 1040-ES. Here’s when those payments are due:

  • First-quarter payments: April 18, 2023
  • Second-quarter payments: June 15, 2023
  • Third-quarter payments: Sept. 15, 2023
  • Fourth-quarter payments: Jan. 16, 2024

This is the standard schedule to follow, provided nothing interferes.

If you’re an employee who earns tips, you’re required to report all your monthly tip earnings to your employer by the 10th of the following month. Your employer is responsible for sending those numbers to the IRS, as well as for adjusting how much money comes out of your paycheck to satisfy your tip withholding.

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