Tax season is quickly approaching. If you are like most people, you probably haven’t started preparing and wondering when taxes are due. Don’t fret; you are not alone. Many may also be delaying their tax preparation as they are busy with the daily grind.
In any case, our tax specialists are here to help. Here’s a quick look at tax due dates and other tax-related deadlines in 2023.
2023 Tax Due Dates to Remember
The new year is finally here, meaning it is time to start thinking about taxes. Most people are aware that taxes are due in April, yet the tax filing deadline is not the only important date on the tax calendar.
The deadline to file federal tax returns along with payments is April 18 this year. However, the IRS starts accepting tax returns in January, meaning you can file and submit your taxes and any amount owed at the start of the new year.
Our tax specialists are here to help you figure out precisely what you owe, minimize your tax obligation, and file on time. Sensible Services ABC helps businesses in Hammond, LA and across the U.S. in terms of tax planning, tax resolution, and more.
If you are an independent contractor, you’ll likely pay estimated taxes. The IRS started accepting estimated tax payments for last year’s fourth quarter, but the due date was last January 17. However, if you are among a few who bypass the quarterly payments in favor of a lump sum payment to cover the entire year’s earnings, your deadline is also April 18.
April 18 is also the last day for contributions to 401k retirement accounts. Furthermore, if you would like to file a tax payment extension, April 18, 2023 is also the last day to do so.
Late in Filing? There’s a Deadline for That
It is no secret that 2022 has been a hectic year. If you are overloaded with work, dealing with a health problem, or have another conflict that prevents you from filing taxes by the April deadline, you should be aware that there is a deadline for late filing.
The late filing deadline for sole proprietors and C-Corporations is October 16. However, the late filing deadline for partnerships, S-Corporations, and multimember LLCs is September 15. Our accounting and tax specialists are here to help businesses of every type prepare and file taxes.
Federal Tax Return Extension Deadline
If you plan on requesting an extension for your federal tax returns, you should be aware that the clock is ticking. The deadline for filing a federal tax return extension is April 18.
File for the extension so you’ll have more time to complete and formally file your tax return for 2022. While tax extensions help provide more time to submit the tax return, they do not give more time to pay taxes.
What About Amended Returns?
If you end up amending your tax return for 2022, you should know that you have three years to do so from the initial due date.
The amended tax return deadline is April 18, 2026. This deadline applies to returns filed in or before April of 2023 pertaining to money earned in 2022.
However, amended tax returns are only required if changes are necessary. We would be remiss not to point out that an amended return cannot be filed until the Internal Revenue Service accepts it.
Need Help with Tax Filing? Contact Sensible Services ABC
Your business needs the best financial consultants and tax professionals for invaluable and ongoing guidance. Sensible Services ABC provides that and more. We help businesses throughout the nation solve their accounting and tax issues so they can focus on what they do best—run the business.