It is that time of year again, Tax Time. The blanket extensions due to the COVID pandemic have sunset, so please refer to the chart below for this years important tax filing dates. Also, make sure to check if you qualify for a tax extension based on your geographic location. The IRS will extend your “Tax Day” deadline if your area has been deemed a FEMA designated disaster area. Below is a link to see if you live in such an area.
Tax Relief And Extensions in Disaster Areas
The areas and exact extension dates can be found at Tax Relief in Disaster Situation website on irs.gov. Select locations include areas of Arkansas, Mississippi, New York, California, Georgia, and Alabama.
Please make sure to verify all deadlines and your location-specific extension with a tax professional.
Important Tax Filing and RMD Dates for 2023
| January | 17 | Estimated tax payments due for the 4th Quarter. This is the last day to pay estimated taxes for income earned from September 1, 2022, through December 31, 2022. Generally, this applies to self-employed workers and taxpayers whose withholding does not cover enough of their tax liability. |
| January | 23 | Tax-filing season begins. The IRS will begin to accept and process federal tax returns on January 23. Note that if you apply for certain credits, like the earned income tax credit or the additional child tax credit, the agency can’t issue your refund until at least mid-February — no matter how early you file. |
| January | 31 | Form W-2 deadline. Employers must mail or furnish W-2 forms to employees who worked for them in 2022 by this date. 1099 deadlines. The IRS requires that certain information returns, such as the 1099-NEC, 1099-K and 1099-INT, be issued or mailed by January 31. This means, for example, if you earned a certain income from interest in 2022 or are a freelancer who made $600 or more in non-employee earnings, you should expect a document in your inbox or in the mail outlining those earnings around this time. You’ll need to reference it when you file your taxes. |
| February | 15 | Form W-4 deadline for tax-exempt status. If you were exempt from tax withholding in 2022, this is the deadline to file a new Form W-4 with your employer if you intend to reclaim the exemption for 2023.1099 deadlines (continued). Another set of 1099 deadlines: Informational returns like the 1099-Bs (for income earned from the sale of certain securities) and certain 1099-MISC forms must be sent to recipients by this date. The IRS has more details about information returns here. |
| April | 3 | RMD deadline. Those who turned 72 years old in 2022 may need to take their first required minimum distribution, or RMD, by April 3, 2023. |
| Tax Day April | 18 | Federal tax-filing deadline. You must file your taxes with the IRS on this date. This is also the deadline to file for a tax extension. Remember, a tax extension gives you more time to submit your return, not pay your taxes. Even if you submit a request for an extension, you must pay your taxes owed by April 18.HSA and IRA contribution deadline. The last day to contribute to your health savings account or a Roth/traditional individual retirement account for the tax year 2022. The limit for HSA contributions in 2022 is $3,650 for individuals and $7,300 for family coverage. The contribution limit for IRAs in 2022 is $6,000 ($7,000 if you’re 50 or older).Estimated taxes due for 1st Quarter. Estimated tax payments on income earned during the year’s first quarter (January 1, 2023, through March 31, 2023) are due today. |
| June | 15 | Estimated taxes due for 2nd Quarter. Estimated tax payments on income earned during the second quarter of the year (April 1, 2023, through May 31, 2023) are due today. |
| September | 15 | Estimated taxes due for 3rd Quarter. Estimated tax payments on income earned during the third quarter of the year (June 1, 2023, through August 31, 2023) are due today. |
| October | 16 | Tax extension deadline. Filing for an extension by April 18 gives you until October 16 to finalize your returns. If you miss this deadline, your return is considered late by IRS and the penalties will begin to pile on. |
| December | 31 | 401(k) contributions deadline. If you contribute to an employer-sponsored retirement plan like a traditional or Roth 401(k), December 31 is typically the last day to make a qualified contribution. For the 2023 tax year, the most you can contribute is $22,500 ($30,000 if you’re 50 or older). Second RMD deadline. 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. |
