2023 TAX DATES

INDIVIDUAL FILERS

JANUARY 16, 2023

4th Quarter 2022 estimated tax payment due. If you earn income without tax withholding and are self-employed or have other sources of income, you are required to make quarterly estimated tax payments. The final deadline for your fourth and final quarterly payment for the 2022 tax year falls on this date.

January 23, 2023

the first day that the IRS will begin accepting and processing 2022 federal tax returns.

January 31, 2023

The due date for employers to send W-2 forms. In order for you to meet the deadline for filing your tax return, the IRS mandates that employers must send you a W-2 by January 31st after the end of the tax year. Although W-2s are typically sent by this date, it is not guaranteed that you will receive your form by then.

Certain 1099 forms are sent. Different 1099 forms, including 1099-NEC, 1099-MISC, and 1099-K, are utilized to report payments that are not typically provided by an employer. For instance, if you work as an independent contractor, gig worker, or self-employed individual, or if you earn income from interest, dividends, prize winnings, rents, royalties, or brokerage account transactions. These forms must be sent by the following business day if January 31 falls on a weekend or holiday.

February 15, 2023

Reclaim your exemption from withholding. If you opted to claim an exemption from employer tax withholding on your paychecks last year by submitting a Form W-4, you must submit the form again by this deadline. This exemption request is applicable if you expect to have no tax liability this year and had none in the previous year.

April 3, 2023

if you turned 72 in 2022, the Required minimum distribution is due. If you reached the age of 72 in 2022, you must withdraw your 2022 required minimum distribution (RMD) from your retirement account by April 3, 2023. This is your first required distribution. As per the SECURE Act passed in 2019, individuals who turned 70 years old on or after July 1, 2019, are not required to take RMDs until they reach the age of 72.

April 18, 2023

Tax day (unless extended due to local state holiday). Usually, the tax deadline is on April 15 every year. However, if this date falls on a holiday or weekend, it can be postponed. If you miss the tax deadline, you may face penalties and interest charges.

Deadline to File Form 4868 and request an extension. In addition to the tax day deadline, the last day to file Form 4868 to request an extension for filing your individual income tax return FALLS on the same date. If you are not ready to submit your tax return by the tax day deadline, it is important to request an extension. This will allow you to postpone the filing of a completed tax return until October 16, 2023. Nevertheless, it is important to note that even if you choose to file an extension, you are still obligated to pay any taxes you owe by the April deadline

Deadline to make IRA and HSA contributions for 2022 tax year. This is also the deadline for individuals filing their income tax return to make contributions to their IRA or HSA for the 2022 tax year. Once this date has passed, you are unable to make contributions for the prior tax year.

First quarter 2023 estimated tax payment due. If you make estimated tax payments, it means that you have to estimate your expected income for the year and calculate the amount you owe to the IRS for income taxes. To determine your tax liability for the year, you can use IRS Form 1040-ES. The rules and details for calculating this amount can be found in IRS Publication 505. In the event that you overestimated your tax liability for the year and are entitled to a refund, you can choose to receive the money immediately or apply the overage to your quarterly tax payments for the following year.

JUNE 15, 2023

Second quarter 2023 estimated tax payment due. The due dates for quarterly estimated taxes do not necessarily align with quarterly intervals or represent three months of tax payments. Rather, they indicate an even quarterly share of your estimated income tax liability, which is paid at irregular intervals. The first payment is due three and a half months into the year, the second payment is due five and a half months later, the third payment is due eight and a half months later, and the fourth and final payment is due 12 and a half months after the start of the year.

SEPTEMBER 15, 2023

Third quarter 2023 estimated tax payment due.

OCTOBER 16, 2023

Deadline to file your extended 2022 tax return. If you chose to file an extension request on your tax return, this is the due date for filing your tax return.

DECEMBER 31, 2023

Required minimum distributions must be taken for individuals age 73 or older by the end of 2023. If you turned 72 in 2022 and took your first RMD by April 1, 2023, you will also need to take your 2023 RMD by the end of the year. This deadline also applies if you are otherwise required to take an RMD for 2023.

JANUARY 15, 2024

Fourth quarter 2023 estimated tax payment due. This represents the final quarterly estimated tax payment due for 2023. If you choose the option to pay 100% of your previous year’s tax liability, any unpaid taxes will be due when you file your 2023 individual tax return by the April 2024 deadline.