Personal tax deadline: Due Dates 2023
With the new year quickly approaching, it’s time to start thinking about when personal taxes are due in 2023. For many people, this can be a daunting task, made even more challenging by the ever-changing deadlines and regulations. But don’t worry!
In this article, we’ll break down the filing deadlines for federal and state taxes, so you can stay compliant with the IRS and stay on top of your personal tax obligations. Let’s take a look at when personal taxes are due for 2023!
What are Personal Taxes?
Personal taxes are the payments made by individuals to the government to cover their federal, state and local tax liabilities. They are generally based on income, which means the more money you make, the higher your personal tax rate will be.
The amount you owe is determined by your filing status (single, married filing jointly or separately, etc.), number of dependent and other factors. Other types of personal taxes include self-employment, sales, capital gains and estate taxes. Understanding how these work is essential for minimizing your liability while maximizing any potential savings or credits available to you.
When Are Personal Taxes Due for 2023?
2023 is an important year for personal taxes. The due date for filing your federal income tax return and paying any individual tax return owed is April 15th, 2023. However, if you cannot file by this tax deadline, you may be able to request an extension. This will give you until October 15th, 2023 to file your return and pay any taxes owed without facing a penalty.
If you live in one of the 43 states with an income tax, then you may also need to file a state-level return. The exact due dates vary between states, but most require returns to be filed by April 15th or soon after. Some states may also offer extensions similar to the federal government.
Along with paying your taxes on time and paying the amount you owe, it’s also important to check if your local tax requirements are the same. For example, some cities impose special taxes on residents that must be paid annually or quarterly depending on the jurisdiction.
By understanding when personal taxes are due for 2023 and taking these other factors into account, taxpayers can avoid expensive interest charges and late payments while meeting their obligation.
Filing Deadlines:
Filing deadlines are an important part of making sure you meet your tax obligations on time. In 2023, federal income tax returns and payments must be submitted by April 15th.
However, if you’re unable to meet that deadline, you may be able to request an extension until October 15th without incurring a penalty.
For state taxes, the tax filing deadlines vary. Most states require returns to be filed by April 15th or shortly thereafter; some offer extensions similar to the federal government. It is also important to check for local taxes as well, because some cities have special taxes that must be paid, depending on where you live.
To make sure you don’t miss any filing deadlines:
• Make sure you know when federal income tax is due – April 15th in 2023 with potential extension until October 15th
• Check filing dates for state taxes – most due by April 15th but varies by state
• Verify applicable local taxes – may need to pay annually or quarterly
• Submit your return and payment on time – late payments can incur penalties.
Here are additional tax deadlines and due dates that should be noted in 2023.
It is important to know about different personal and business tax returns deadlines as well as those from the IRS during your tax season.
| January 23 | Tax-filing season is officially here. The IRS will start accepting and processing federal tax returns on January 23. Please note that if you apply for certain tax credits, like the earned income tax credit, the agency can not issue your refund until at least mid-February. |
| April 3 | The Required minimum distribution (RMD) deadline. The people of the age group of 72 years old in the year 2022, then they may need to take their first RMD by the date April 3, 2023. |
| April 18: Tax Day | Federal tax-filing deadline. This is the date by which you must file your taxes with the IRS. This is also the deadline to file for a tax extension. If you are not ready to file your tax return, you can apply for an extension. This will give you more time to file your taxes, but not pay them. If you are requesting a tax extension, the taxes owed must be paid by April 18. HSA and IRA contribution deadlines. The last day to make contributions to your health savings account or a Roth/traditional individual retirement account for the tax year 2022. The limit for $3,850 for self-only HSAs and to $7,750 for family HSAs. The contribution limit for IRAs in 2022 is $6,000 ($7,000 if you’re 50 or older). Estimated taxes due for 1st Quarter. Taxes due for the first quarter of 2023 are due today, with a deadline of March 31, 2023. This is the same as the deadline to file your personal tax return. It is important to remember that estimated taxes are due quarterly, and must be paid even if you have not yet filed your tax return. Estimated taxes are based on income expected to be earned during the current year, so it is important. |
| June 15 | Estimated taxes due for the 2nd Quarter. The estimated tax payments on income earned during the year are due between April 1 and May 31, 2023. |
| September 15 | Estimated taxes due for the 3rd Quarter. Tax payments on income from June 1, 2023 through August 31, 2023 should be submitted during the third quarter of the year. |
| October 16 | Tax extension deadline. Get your tax returns done by Oct 16 if you file for an extension by Apr 18.If you miss this deadline, your return is considered late by the IRS and the penalties will begin to pile on. |
| December 31 | The deadline for making contributions to a traditional or Roth 401(k) plan for the 2023 tax year is December 31st. The maximum contribution limit is $22,500 ($30,000 if you are 50 years or older). All individuals who were subject to the RMD requirement must take their distributions by December 31; those who have taken their initial RMD in April are included. |
Federal Tax Return Deadline
Federal Tax Return Deadline
When it comes to filing your federal tax return, there is an important deadline you need to be aware of. Below is a list of due dates in 2023 for submitting your tax return and payment:
• April 15th: This is the last day to file your federal tax return and make any payments owed without incurring any penalties.
• October 15th: If you cannot make the April 15th deadline, you can submit an extension request until this date. However, if you owe taxes, they should be paid by the original due date to avoid penalties.
It’s important to note that these deadlines are only for federal income taxes; state and local taxes may have different filing requirements and deadlines. Be sure to check those as well, so you don’t miss any filing deadlines or incur any late fees.
State Tax Return Deadline
State Tax Return Deadline
When it comes to filing your return, there are important deadlines you need to be aware of. Below is a list of due dates in 2023 for submitting your tax return and payment:
• April 15th: This is the last day to file your state tax return and make any payments owed without incurring any penalties.
• June 15th: If you owe taxes on income earned between January 1st and May 31st, you have until June 15th to pay these taxes.
• October 15th: If you cannot make the April 15th deadline, you can submit an extension request until this date. However, if you owe taxes, they should be paid by the original due date to avoid penalties.
It’s important to note that these deadlines are only for state income taxes; local taxes may have different filing requirements and deadlines. Be sure to check those as well, so you don’t miss any filing deadlines or incur any late fees.
Extension Payment Deadline
Extension Payment Deadline
If you need more time to file your state tax return, you may be able to request an extension. Below is a list of due dates for submitting your extension request and payment:
• April 15th: The deadline for making any payments that are due without incurring any penalties. An extension request can also be submitted by this date.
• June 15th: If you owe taxes on income earned between January 1st and May 31st, you have until June 15th to pay these taxes.
• October 15th: This is the last day that you can request an extension, so that you can get more time to file your state tax return. However, if you owe taxes, they should be paid by the original due date of April 15th to avoid penalties.
It’s important to note that these deadlines are only for state income taxes; local taxes may have different filing requirements and deadlines. Be sure to check those as well so you don’t miss any filing deadlines or incur any late fees.