US Tax Year Key Dates and Deadlines

Bankrate follows a strict editorial policy, so you can trust that we’re putting your interests first. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. We are an independent, advertising-supported https://turbo-tax.org/when-can-you-file-your-taxes-this-year/ comparison service. You have until the tax deadline to contribute to an IRA — either Roth or traditional — for the 2023 tax year. The maximum contribution amount for either type of IRA in 2023 is $6,500, or $7,500 if you’re age 50 or older.

While most eligible people already received their stimulus payments, this letter will help individuals determine if they are eligible to claim the Recovery Rebate Credit for missing stimulus payments. If so, they must file a 2021 tax return to claim their remaining stimulus amount. People can also use IRS online account to view their Economic Impact Payment amounts. To speed refunds, the IRS urges taxpayers to file electronically with direct deposit information as soon as they have everything they need to file an accurate return. If the return includes errors or is incomplete, it may require further review that may slow the tax refund.

If you worked in any of these countries, you could be due a Tax Refund

Many tax benefits during the pandemic expired and no longer apply this tax filing season, such as the enhanced child tax credit. Parents who received $3,600 per child during the pandemic will now get $2,000, and that’s only available for parents with children under age 17. This is the last day to pay estimated taxes for income earned September 1, 2022, through December 31, 2022. Generally applies to self-employed workers and taxpayers whose withholding does not cover enough of their tax liability. Although the deadline to file your taxes is nearly always April 15, there are cases when the IRS may have to extend it.

If you’re 55 or older, you can put an extra $1,000 in your HSA. Taxpayers who live or work outside of the U.S. are granted an automatic two-month extension from April to timely file. The IRS states that most tax refunds are distributed within 21 calendar days of filing. The fastest and most accurate way to file your tax return is to file electronically. If you miss an estimated tax payment, make your payment as soon as you can.

S corporation and partnership tax returns due

These free programs have operated for over 50 years and use IRS certified tax preparers and meet high IRS quality standards. This means you can be assured that you will have an accurate return. You can file your taxes at any time between when the IRS opens and the annual due date. Some taxpayers may get a jump on taxes and prepare them before the IRS opens, but it’s important to note that you can only truly file them when the IRS is open. Rettig noted that IRS employees continue to work hard on critical areas affected by the pandemic, including processing of tax returns from last year and record levels of phone calls coming in. Past your tax due date, you’ll have to pay a penalty for late payment.

• These documents relate to business transactions that aren’t covered by W2 (anything that falls outside of tips and wages).
• This work does require special handling by an IRS employee so, in these instances, it may take the IRS more than the normal 21 days to issue any related refund.
• We do not include the universe of companies or financial offers that may be available to you.
• If you need more time because you live in an area hit by a natural disaster, you might qualify for tax relief from the IRS.
• While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service.

Or, click the blue Download/Share button to either download or share the PDF via DocuX. For the fastest information, the IRS recommends finding answers to your questions online. Once you get all your required documents from financial firms and your employers, consider keeping them all in one place by creating a physical or digital folder, Molina says. If you’re required to take RMDs, you must do so by December 31; this also applies to folks who took their initial RMD in April.

Tax Deadlines

Some fee-based tax preparers may offer you a refund advance loan (RAL) so that you can get a portion of your expected refund in advance. The amount of a RAL is typically a percentage of your estimated tax refund. Eligible taxpayers who received advance Child Tax Credit payments should file a 2021 tax return to receive the second half of the credit.

State rules regarding tax filing extensions may differ from the federal rules, too. So, check with the state tax agency where you live to find out when your state tax return is due and/or how to get an extension. For example, the IRS announced https://turbo-tax.org/ it would postpone tax filing and tax payment deadlines for taxpayers affected by the September 2020 California wildfires. Don’t put off filing just because you can’t afford to pay the amount due on the day you need to file your tax return.

Key Dates for the US Tax Year 2022

In instances where this due date falls on a Saturday, Sunday, or legal holiday, the due date is moved to the next business day. You can check on the status of your refund on the IRS website or at our Where’s My Refund page. Using this tool, you can easily track the progress of your return as it is processed. There are some outlier situations where a tax pro or online could prepare your return and you need to mail it – not common though. However, you can always choose to have your return printed to mail yourself.

You won’t face a penalty if you’re due a refund, but you could lose your refund if you don’t file a tax return within three years of the original deadline. You’ll need to input your Social Security number, filing status and expected refund amount. The IRS starts tracking your tax refund within 24 hours after e-filing and updates the tool daily. If you filed your tax return by mail, expect longer processing times and delays.

My mom has been using the free software to prepare her return for years. All I had to do was enter the information from my W-2 and 1099-T. Another way to qualify for a free return is courtesy of Uncle Sam. If your adjusted gross income is below $73,000, you should be able to use the IRS’s Guided Tax Preparation program, which will help you complete your return for free through a partner site. If your taxes are simple—think basically using a W-2 to fill out a Form 1040—there is a chance you will be able to qualify for free tax software from TurboTax, H&R Block or one of the other big tax software companies.

• The IRS continues to reduce the inventory of prior-year individual tax returns that have not been fully processed.
• Regardless of whether you file electronically or using paper forms, Copy B of Form 1099-MISC must be sent to the payee by January 31, 2023.
• Or, click the blue Download/Share button to either download or share the PDF via DocuX.

Only those who itemize can now deduct charitable payments, and the adjusted gross income ceiling on charitable cash contributions is back to its usual 60 percent. With tax filing season underway, the Internal Revenue Service (IRS) is warning taxpayers to brace for smaller refunds without the cushioning of a few COVID-19 tax breaks. Contributions to a traditional 401(k) reduce your total taxable income for the year. For example, let’s say you make $65,000 a year and put $10,000 into your 401(k).