Important Tax Deadlines and Dates for 2023

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When Are 2022 Taxes Due?

A better question might be: When aren't 2022 taxes due? Depending on your specific situation many
deadlines may apply.  It would be helpful to mark these dates on your calendar.

Important Tax Deadlines and Dates

The IRS has set the following deadlines for the upcoming tax season: 

  • January 23, 2023 – IRS begins accepting turns 
  • January 17, 2023 – Fourth quarter estimated payments due for tax year 2022 
  • February 1, 2023 – Employers must mail W-2 forms 
  • April 18, 2023 – Tax Day/federal returns and payments due, final day for 401k contributions and extensions
  • October 16, 2023 – Late filing deadline

 

Below, you’ll find more important tax dates for 2023. This does not even scratch the surface of all tax deadlines, but we are keeping the list brief here with what applies to most of our clients.  If you want all the tax deadlines go straight to the horses mouth and get them from the IRS, this online calendar lets you filter by your specific situation.

Small Business

Filing Deadline 

Extension Deadline  

Sole Proprietors 

April 24, 2023 

Oct. 16, 2023 

Partnerships 

March 15, 2023 

Sept. 15, 2023 

Multimember LLCs 

March 15, 2023 

Sept. 15, 2023 

S-Corps 

March 15, 2023 

Sept. 15, 2023 

C-Corps 

April 17, 2023 

Oct. 16, 2023 

 

What if I miss a tax deadline?

If you missed one of these key tax deadlines, you have options. Those options depend on the deadline missed and whether you owe money or are due a refund.

What happens if you miss the tax filing deadline and are owed a refund?

If you are due a refund for the 2022 tax year, there's typically no penalty for filing your tax return late. However, you should file as soon as possible.

Generally, you have three years from the tax return due date to claim a tax refund. That means for 2022 tax returns, the window closes in 2025.

What happens if you miss the tax filing deadline and owe taxes?

When you miss a tax filing deadline and owe money to the IRS, you should file your tax return as soon as possible. Every day your tax return is delinquent, the IRS typically charges interest, failure to file penalties and failure to pay penalties until you file your return and pay the balance due.

What happens if you miss an estimated tax payment deadline?

If you miss an estimated tax payment, make your payment as soon as you can. The penalties and interest the IRS charges depend on how much you owe and how late you are, but you can minimize the damage by making your payment as soon as possible.

What if I owe more than I can pay?

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. The IRS starts charging penalties and interest on the day the return is due, no matter when you file. You can minimize failure to file penalties by filing as soon as possible, paying as much as you can when you file, and setting up an installment plan for the balance.

What's the fastest way to file my tax return?

The fastest and most accurate way to file your tax return is to file electronically.

E-filing your tax return with the IRS is more secure than paper filing. Because the tax return is electronically transmitted to the IRS, you don't have to worry about it getting lost in the mail or arriving late. You'll also get confirmation right away that the IRS has received your return and has started processing it.

If you're waiting for a tax refund, the fastest way to get your money is to have it electronically deposited into your bank account. The IRS typically issues 90% of refunds in less than 21 days when taxpayers combine direct deposit with electronic filing.

What if I need more time?

Don't let a looming tax deadline force you to rush through the tax filing process and make a mistake on your return. Simply request an extension.

Just keep in mind, the tax extension gives you more time to file your return, not more time to pay the tax you owe. You'll need to estimate the amount you owe and make your payment by the tax filing deadline even if you file an extension.


How Can I Be Sure I Never Miss a Deadline?

Easy!  Call the ACO team and we will keep you in compliance!

For the latest tax updates be sure to follow us on Twitter, Facebook and LinkedIn. You can also visit our website at https://arndtcpas.com or give us a call at (417) 882-9000.

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