When Does The 2023 Tax Season Start?

Sign, Harlingen, Texas.
1939. Photographer Lee Russell

We are almost our second week into the new year, meaning we are getting closer and closer to tax season. Whether you dread this time of year or you like to prepare early, it’s always a good idea to know when tax season starts. It’s never a good thing to be surprised, and filing your taxes sooner than later has a number of benefits.

What date can you start filing?

The IRS announced yesterday that Monday, January 23 will be the start of the 2023 tax season. This is the date they will begin accepting and processing tax returns from 2022. The IRS stated that they anticipate an estimated amount of 168 million tax returns, and that most of them should come before the deadline. The IRS has been busy hiring personnel to combat the impact caused by the pandemic. More than 5,000 telephone assistors along with in-person staff have been hired to help taxpayers.

What is the deadline for filing?

The deadline for filing this year for most taxpayers is Tuesday, April 18. The deadline would usually fall on April 15, however, due to Monday, April 17th being the District of Columbia’s Emancipation Day, it falls on the day after. Taxpayers who request an extension will have until Monday, October 16 to file.

When is IRS Free File available?

IRS Free File is currently available right now. Today, January 13, 2023, marks the day IRS Free File became available for the 2023 tax season. IRS Free File is available to taxpayers who $73,000 or less in 2022. It allows them to file their taxes electronically for free using brand-name tax software provided by various software tax-filing companies. This program is only available on the IRS website.

How long will it take to receive my refund?

We have previously written an article that tries to answer this question, and as it turns out, the answer to this question varies on a number of factors regarding the processing of your tax return. Whether your return is audited, or it simply takes longer are some factors that contribute to when one receives their refund. One thing you can count on however is that the earlier you file your taxes, the earlier you should receive your return. The IRS officially stated that most refunds will be issued in about 21 days. This is only if they file electronically and choose direct deposit. This also assumes that there were no other issues with their tax return, such as the need for an audit.

The IRS also states that while they are able to start processing returns as early as January 23, they cannot issue a refund that includes the Earned Income Tax Credit (EITC) or the Additional Child Tax Credit (ACTC) before mid-February. They state that these refunds should be available to February 28.

What are some tips to make filing smoother?

Now that we have learned about the dates for when we can start filing, and when we should expect to receive our refunds, it’s a good idea to start preparing now. As mentioned before, the sooner you file, the sooner you will receive your refund. Luckily for us, the IRS also gives us a few tips for what we can do to make sure the process goes as smoothly as possible. Here a few of the things they mention:

Have the right information before filing – Before you file a complete return, it’s important that you have all of the right information necessary. This helps ensure that your return is as accurate as possible and you avoid any delays. The IRS states that you should be sure to organize and gather your Social Security numbers, Individual Taxpayer Identification Numbers, Adoption Taxpayer Identification Numbers and this year’s Identity Protection Personal Identification Numbers valid for calendar year 2023.

Visit IRS.com for any questions – The IRS also states you should visit their official website if you have any questions.

File electronically and choose direct deposit – Finally, the IRS mentions that filing electronically and choosing direct deposit will guarantee that you receive your refund as soon as possible.

If you have any questions about filing your taxes, or would like to receive professional help, please contact us here at Jacobwise. We would be more than happy to schedule an appointment to help you file your taxes as soon as possible.