2023 Income Tax Filing Season Starts January 23, IRS Says

The Internal Revenue Service (IRS) has announced that the 2023 income tax filing season starts on January 23. The deadline for the filing will be on April 18.

Income Tax Returns [Photo: Marca]

According to Sahadi, anyone can apply for a six-month extension until October 16 as long as they submit a Form 4868 by April 18. However, this form will only extend the deadline for filing. The deadline to pay any overdue federal income tax will still be on April 18. Nonetheless, the deadline for both filing and payment can be extended for anyone who lives in the federal disaster areas. These individuals have until May 15 to file their tax returns and pay any obligation.

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How to Receive Tax Refunds Early

As stated on the IRS website, it is expected to receive the tax refunds 21 days after receiving the tax returns. However, this will only be possible if the tax returns filed are complete and accurate, filed electronically, and direct deposit is chosen as a method of delivery. As much as possible, the IRS does not recommend filing paper tax returns.

The IRS offers a free filing program for anyone whose 2022 adjusted gross income is less than $73,000. This program helps tax filers prepare and electronically file their tax returns free of charge. In addition, the Volunteer Income Tax Assistance and Tax Counseling for the Elderly programs are also offered by the IRS. These programs are free basic tax returns preparations for those who earn less than $60,000.

For the Child Tax Credit (CTC) or the Earned Income Tax Credit (EITC), the IRS is forbidden by law to issue tax refunds before mid-February. This year, the EITC is expected to be received in bank accounts or debit cards by February 28.

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