This tale is part of Taxes 2023, CNET's coverage of the best tax software, tax tips and everything else you need to file your back and track your refund.
The IRS began accepting tax returns on Monday, so it's time to start getting your paperwork together to file your 2022 taxes.
The IRS says it expects to claim more than 168 million individual tax returns this filing season, the first to benefit from the Inflation Reduction Act, a measure approved in August that provides the IRS with additional staffing and resource.
"We've held thousands of new employees to answer phones and help people," Acting IRS Commissioner Doug O'Donnell said in a statement. "While much work remains after several difficult years, we ask people to experience improvements this tax season."
We've gathered all the vital dates for the 2022 tax season, including when federal and space taxes are due and when you can expect a refund.
For more on taxes, learn how to set up an explain on the IRS website, and how to file on your phone.
What's the deadline for filing taxes?
The deadline to file for most Americans is Tuesday, April 18, 2023. That's because April 15 is a Saturday and the next weekday, April 17, is recognized as a holiday, Emancipation Day, in Washington, DC.
According to the IRS, "by law, Washington, D.C., holidays impacts tax deadlines for everyone in the same way federal holidays do."
Residents of Alabama, California and Georgia who have been impacted by severe storms have pending May 15 to file their taxes.
If you're serving in the army abroad, including in a combat zone or as part of a contingency working in support of the US Armed Forces, you may be decided additional time to file your return.
When are space taxes due?
Of the 41 states that levy means tax, most are adhering to the April 18 deadline. There are some exceptions.
Nine states -- Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington and Wyoming -- have no space income taxes.
Check with your state department of revenue for the most new information and deadlines.
Read On: Homeowners, Don't Miss These Tax Breaks to Maximize Your Refund
What's the deadline if I file for an extension?
Taxpayers requesting an extension will have pending Oct. 16, 2023, to file their 2022 tax return.
Fiiling an extension doesn't push back your payment deadline, though. You still need to submit anything you owe on time to avoid late penalties. An extension just gives you more time to undone your return.
When can I file my 2022 taxes?
The IRS typically begins accepting and processing returns in late January. This year's start date for individual tax return filers was Jan 23.
Employers are obligatory to provide workers with W-2 and 1099 income tax does by Jan. 31.
Should I file my taxes early?
If you have all your paperwork in clean and you're getting a refund, then it makes felt to file as soon as possible, said Joe Buhrmann, senior financial planning consultant at eMoney Advisor. "From a planning perspective, the IRS likes that."
If you owe cash, though, you might want to wait a bit.
"It grants you a bit more time to hold onto your money," Buhrmann said. "And it grants you time to figure out how to pay – whether that using getting a loan, putting it on credit cards or something else."
Even if you're not filing now, you should prepare your taxes as soon as possible.
"Knowledge is always a good drawing to have," Buhrmann said. "Make sure you've gotten your 1099 and know what you're moving to be dealing with."
When can I expect my refund?
Once the IRS begins accepting returns, the agency says, taxpayers who file electronically and are due a refund can ask it within 21 days -- if they choose recount deposit and there are no issues with their back.
By law, the agency cannot issue refunds engaging the Earned Income Tax Credit or Additional Child Tax Credit beforehand mid-February, in order to help prevent fraudulent refunds from people issued.
When is IRS Free File available?
IRS Free File, a partnership between the IRS and leading tax-software concerns, traditionally becomes available in January. The program allows taxpayers idea a certain income threshold to file electronically for free, funny software provided by participating providers. (Last year, the salary cap was $72,000.)
Free File typically begins beforehand tax season officially starts, so the partner companies hold the undone returns until they can be filed electronically with the IRS.
For more on taxes, find out about changes in the law that could grab your tax refund and learn which tax-prep software is the best.
Source
