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When Are Taxes Due in 2023? A Comprehensive Guide
The 2023 tax season is upon us, and it’s crucial to stay informed about the key deadlines to avoid penalties and ensure timely compliance with the Internal Revenue Service (IRS). In this article, we will provide a detailed overview of the tax filing deadlines for both individual and business taxpayers in the United States.
Individual Taxpayers
For individual taxpayers, the deadline to file your 2023 tax return is April 15, 2024. However, if you reside in Maine or Massachusetts, the deadline is April 17, 2024, due to the Patriots’ Day holiday. If you need more time to file, you can request a six-month extension, which would push the deadline to October 15, 2024.
Business Taxpayers
Businesses have different filing deadlines depending on their structure. Corporations must file their 2023 business tax returns by April 15, 2024. S-corporations and partnerships typically have a September 16, 2024, deadline for filing their tax returns.
Estimated Tax Payments
For self-employed individuals and businesses, estimated tax payments are due quarterly. The due dates for these payments are:
- January 16, 2024, for income earned from September 1, 2023, to December 31, 2023
- April 15, 2024, for income earned from January 1, 2024, to March 31, 2024
- June 17, 2024, for income earned from April 1, 2024, to May 31, 2024
- September 16, 2024, for income earned from June 1, 2024, to August 31, 2024
Other Important Tax Deadlines
Additionally, there are several other important tax deadlines to keep in mind:
- January 16, 2024, is the due date for the final estimated tax payment for 2023
- January 29, 2024, marks the beginning of the 2023 tax season, when the IRS starts accepting and processing tax returns
- January 31, 2024, is the deadline for employers to send W-2 forms to employees
- February 15, 2024, is the deadline to reclaim an exemption from withholding
- April 1, 2024, is the deadline for required minimum distributions from retirement accounts for those who turned 73 in 2023
Conclusion
In conclusion, understanding the tax filing deadlines for 2023 is crucial to avoid penalties and ensure timely compliance with the IRS. Whether you’re an individual or a business, it’s essential to stay informed about the key deadlines and plan accordingly to avoid any potential issues.
More information
[1] 2024 Tax Deadlines You Need to Know source – experian
[2] Every Tax Deadline You Need To Know source -TurboTax
[3] When Are Estimated Tax Payments Due in 2024? source – kiplinger
[4] Tax Day 2023: Last Day to File 2023 Taxes source – jackson hewitt