Key dates and how to prepare ahead of the 2023 tax season - 96.9 WINK FM

Key dates and how to prepare ahead of the 2023 tax season


The beginning of tax season is right around the corner, so there is no better time to prepare and familiarize yourself with the important deadlines.

The IRS will begin taking and processing tax returns on January 23. From then, you will have until April 18 to file your taxes unless you file for an extension, but the sooner you file, the sooner you get your tax return.

If you file for an extension before April 18, you will have until October 16 to file.

Through the Inflation Reduction Act, the IRS has hired an additional 5,000 people to help support you in the tax filing process.

If you made $73,000 or less in 2022, you can file your taxes for free through the IRS Free File program. You can learn more about that by clicking here.

The April 18 deadline is three days later than typical because the traditional April 15 deadline would fall on a Saturday, with the following Monday being the Emancipation Day holiday for Washington, DC.

To help yourself get through the tax filing process, the IRS has some tips to help you ease the stress.

The first is to make sure you have everything you need ready with you before you file. That includes social security numbers, taxpayer IDs, and any other documents related to your taxes from your employer, unemployment compensation, dividends, pension, annuity, or retirement plan distributions.

Remember that most income is taxable, including unemployment income, interest received, or money earned from the gig economy or digital assets. Make sure to report the correct amount to avoid processing delays.

You can also speed up the refund process by filing your taxes electronically and choosing to get your refund via direct deposit.

The IRS also wants to remind taxpayers that they can still file while waiting for a 2022 tax return.


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