TAX FILING SEASON IS NOW OPEN

TAX FILING SEASON IS NOW OPEN

Tax filing season is now open. In Notice IR--2023-05, the IRS gave tips on the upcoming tax filing season, which opened on January 23rd, 2023. The IRS has worked for months to prepare for the 2023 tax season. The January 23rd start date for individual tax return filers allows the IRS time to perform annual updates and readiness work that are critical to ensuring IRS systems run smoothly. This is the date IRS systems officially begin accepting tax returns. Many software providers and tax professionals are already accepting tax returns, they will transmit those returns to the IRS when the agency begins accepting tax returns on January 23rd. The IRS urges people to have all the information they need before they file a tax return. Filing a complete and accurate tax return can void extensive processing and refund delays as well as avoid the possibility of needing to file an emended return. Tax filing season is now open.

The IRS encourages people to carefully review their tax situation to make sure they don't overlook important tax credits they may be eligible for, like the Earned Income Tax Credit (EITC). The IRS has set a special day on January 27th to encourage people to make sure they understand the important benefits of the EITC, a credit that can help low-and moderate income workers and families. The filing deadline to submit 2022 tax returns or an extension to file and pay tax owed is Tuesday, April 18th, 2023, for most taxpayers. By law, Washington, D.C. holidays impact tax deadlines for everyone in the same way as federal holidays. The due date is April 18th, instead of April 15th, because of the weekend and the District of Columbia's Emancipation day holiday, which falls on Monday, April 17th.

If you have a tax debt, get yourself a good Tax Resolution firm as the IRS just added 87,000 new employees and are gearing up to increase collection efforts. This will include additional Tax Liens and a IRS Wage Garnishment.