When Is the Tax Return Filing Deadline?
Income tax returns are typically due on April 15 of the year after the tax year. However, because Monday, April 17, is a holiday (Emancipation Day) in Washington, D.C., and Patriot’s Day in Maine and Massachusetts, taxpayers have until Tuesday, April 18, 2023, to file their 2022 tax return.
In non-holiday conditions, the IRS may also extend the filing date. For example, due to “exceptional circumstances relating to the pandemic,” the deadline for filing 2020 tax returns was pushed up from April 15 to May 17, 2021. This extension also pushed the tax payment deadline to May 17, 2021.
What Is the Cost of Tax Preparation?
According to a National Society of Accountants poll, the average cost for tax preparation using Form 1040 in 2020 was $220 when the standard deduction was utilized and $323 when deductions were itemized.
How Do I Submit an Extension Request to the IRS?
Every year, income tax returns are due on or around April 15th. If you are unable to file on time, you may request an automatic six-month extension using Form 4868.27. Remember that the extension only applies to filing your tax return, not paying any taxes that you may owe.
You must pay your taxes before the customary filing time to avoid fines and interest (usually April 15, but April 18, 2023, for the tax year 2022).
In conclusion
Whether you do your own taxes or hire someone to do them for you, organizing your documents ahead of time will save you time and, in the case of a professional preparer, money. The earlier you begin, the smoother the procedure should be, and the sooner you’ll be able to put the process behind you for another year. Visit the IRS’s own list of “actions you can take now to make tax filing easier in 2023” for additional information.
