Key Dates for the U.S. Tax Year 2023

We understand: filing your taxes can feel overwhelming. What if you can’t find the right form, you make a mistake, or you miss a deadline? And of course, tax season is only made more complicated by life events like changing jobs, family changes, or moving. Whether you’re filing as a small business owner or an individual, there are a lot of moving pieces to keep track of. But don’t worry, we’re here to help.

The first step in preparing for tax season is knowing what to expect. As of writing this article, tax season officially starts on January 23, 2023 and the deadline to file your taxes is Tuesday, April 18, 2023. This date and several others are vital to know in order to avoid accruing penalties. Below are some important tax filing dates to keep an eye on for individuals and small business owners alike.

What are the Important Dates to Know in 2023?

Whether you’re filing taxes on behalf of a business or as an individual, tax season is upon us, and with it comes a variety of deadlines. We know keeping all your tax deadlines straight can be challenging, so we’re here to help.

For most people, the main deadline to remember is April 18, 2023, which is this year’s tax filing deadline. That said, most tax deadlines and dates to know will depend on how you’re filing. Talk to your tax professional for details, but listed below are more key filing dates to add to your calendar to get started:

  • January 13: 

    • IRS Free File opens. Taxpayers can begin filing returns through IRS Free File partners; tax returns will be transmitted to the IRS starting January 23. Tax software companies also are accepting tax filings in advance.

  • January 17: 

    • Due date for tax year 2022 fourth quarter estimated tax payment.

  • January 23: 

    • Official start to the IRS 2023 tax season. Individual 2022 tax returns begin being accepted and processing begins.

  • January 27: 

    • Earned Income Tax Credit Awareness Day, which raises awareness of the valuable tax credits available to many people — including the option to use prior-year income to qualify.

  • January 31: 

    • 1099 NEC for non-employee compensation must be filed with the IRS and furnished to contractors.

  • March 15:

    • File S Corporation or Partnership tax extension (Form 7004) by this date if you need additional time to file.

  • April 18: 

    • Due date to file 2022 tax return, request an extension, and pay owed taxes. Moved from April 15 due to a weekend and the Emancipation Day holiday in Washington, D.C., even for those who live outside the area.

    • Due date for first quarter 2023 estimated tax payments.

  • June 15:

    • Due date for second quarter 2023 estimated tax payments.

  • September 15: 

    • Due date to file for those requesting an extension on their 2021 S Corporation or Partnership tax returns.

  • September 15: 

    • Due date for third quarter 2023 estimated tax payments.

  • October 16: 

    • Due date to file for those requesting an extension on their 2022 tax returns.

What Important Dates Have Changed?

Because of the nature of tax deadlines, the exact dates can change year to year. Notably, tax deadlines that fall on weekends or holidays are moved to the next business day. This applies to holidays in Washington, D.C., as well as federal holidays.

This year, both the April filing deadline and the October extension deadline have moved as a result of this rule — April 18 will be the filing deadline because of a weekend and Emancipation Day, and October 16 will be the extension deadline because of a weekend.

Penalties for Missing Important Tax Deadlines

No matter what your filing status, it's important to be diligent about tax deadlines to avoid accruing penalties. 

Missing tax deadlines leads to failure-to-file penalties, a charge on returns filed after the due date or extended due date. These failure-to-pay penalties are 5% of the unpaid taxes for each month or portion of a month that a tax return is late. Visit the official IRS website to see the full extent of these penalties. Consequences like these are a great motivation to keep an eye on tax deadlines and plan ahead.

Let KeyLin Sweat the Deadlines!

With dates fluctuating and guidelines changing on an annual basis, it’s more important than ever to know your filing and payment deadlines to avoid unnecessary penalties.
Let our team of tax professionals sweat the deadlines while you focus on your business. Stay ahead of taxes by requesting a consultation today. Your first consultation is always free!

Tax PreparationAmanda TukeyTax Preparation, 2023