Taxes 2023: When is the tax deadline?
Tax day traditionally falls on April 15, but not this year.
Federal taxes are due on Tuesday, April 18 instead, unless you were affected by the severe storms in California, Georgia, and Alabama. Those residents automatically have longer — until October 16 of this year — to file their returns.
April 18 is also the deadline to file for a tax extension or make contributions to a traditional IRA, Roth IRA, SEP IRA, Health Savings Account (HSA), or solo 401(k) for the 2022 tax year.
The reason tax day isn’t April 15 this year is because that date falls on a Saturday. Typically, the next business day after April 15 is tax day, which would be Monday, April 17 this year. But that date is also the District of Columbia’s local holiday, Emancipation Day, which the IRS observes and closes for.
That means tax day this year is the next business day, or April 18, which is the deadline for filing a tax return electronically, postmarking a paper return, or requesting an automatic extension.
Here’s what other dates you should know.
Requesting an extension for October 16, 2023
If you filed for an extension, the due date for your federal returns is October 16, 2023. This is the final deadline to file your 2022 federal tax return. Extensions give you six additional months to file your tax return, but you still need to pay any tax liability by April 18. An extension to file does not mean an extension to make your tax payment.
There are three ways taxpayers can request an extension.
The first is to file an extension through your tax-filing software. You can visit the IRS website and file an extension online through a software provider that partners with the IRS. The providers offer free extension services to taxpayers who meet their eligible criterias, including adjusted gross income under a certain amount or filers over a certain age.
Taxpayers who need to make estimated payments can file an extension by making the payments in their tax software, if supported, or on the IRS website using Direct Pay, Electronic Federal Tax Payment System, or by debit or credit card.
Taxpayers can also request an extension through mail by paper filing Form 4868, Application for Automatic Extension of Time to File U.S. Individual Income Tax Return. Print and fill out the form according to the instructions and mail it in with a check or money order of any tax balance is due. Where you mail the extension form depends on your state of residency. Check here for the correct IRS branch to mail your extension form.
October 16, 2023 is also the deadline to make 2022 contributions to SEP IRAs and solo 401(k) if the employer filed an extension by April 18.
Severe storm relief deadline is October 16, 2023
The IRS also has postponed the filing deadline to October 16, 2023 for victims of severe storms in California, Georgia, and Alabama. The postponement gives taxpayers who are affected by severe storms in the three states an extended time to file, make tax payments, and make a 2022 contribution to IRA accounts.
This relief is offered to declared-disaster areas by the Federal Emergency Management Agency (FEMA).
Rebecca is a reporter for Yahoo Finance and previously worked as an investment tax certified public accountant (CPA).
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