Introduction
Tax season is a busy time of year for the Internal Revenue Service (IRS) and for millions of taxpayers across the country. Every year, the IRS sets deadlines for filing taxes, and it’s important for taxpayers to be aware of these deadlines so they can plan ahead and file their taxes on time. Taxpayers who are looking to file their 2023 taxes should be aware of the deadline and make sure they are prepared to file by then.
Deadline to File 2023 Tax Return
The deadline to file taxes for the 2023 tax year is April 15, 2024. Taxpayers have until this date to file their taxes and pay any taxes due for the year. The IRS also offers an extension for taxpayers who need more time to file. Taxpayers who file for an extension will have until October 15, 2024 to file their taxes.
Penalties for Late Filing
Taxpayers who don’t file their taxes by the April 15 deadline may be subject to penalties. If a taxpayer is more than 60 days late in filing their taxes, they may be subject to a minimum penalty of $210 or 100 percent of the unpaid tax, whichever is lesser. Additionally, taxpayers may also be subject to interest charges on any unpaid taxes.
Filing Electronically
The IRS encourages taxpayers to file their taxes electronically. Electronic filing is the quickest and most efficient way to file taxes and it can help taxpayers avoid errors and late filing penalties. The IRS offers free tax filing for taxpayers with an adjusted gross income of $72,000 or less. Additionally, many states also offer free tax preparation and filing services.
Getting Professional Help
Taxpayers who are confused or overwhelmed by their taxes may consider getting professional help. Tax professionals can help taxpayers understand their taxes and make sure they are filing correctly and on time. Taxpayers should shop around and find a reputable tax professional who can help them with their taxes.
Tax Refunds
Taxpayers who are due a refund will be able to file their taxes and receive their refund as soon as they file. The IRS typically issues refunds within 21 days of receiving the tax return. Taxpayers can check the status of their refund online or by calling the IRS.
Conclusion
Taxpayers who are filing their 2023 taxes should be aware of the April 15, 2024 deadline. The IRS offers extensions for taxpayers who need more time to file, but taxpayers should be aware that late filing can result in penalties and interest charges. Taxpayers who are confused or overwhelmed by their taxes may consider getting professional help. Additionally, taxpayers who are due a refund will get their refund quicker if they file electronically.