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File your taxes now for 2023 before the deadline to secure your future benefits

The tax filing season officially begins on January 23. The Internal Revenue Service will begin to accept and process tax returns again. They will transmit those returns to the IRS when the agency begins accepting them on Jan. 23 (Buchwald, 2023).

The IRS says more than 168 million individual tax returns are expected to be filed this year. The vast majority of those will be filed before the April 18 tax deadline. If there are any issues with your return, your refund should be delivered within 21 days if you file electronically.

Taxes are due by April 18 in the District of Columbia and April 15 in the state of Washington. If you live in California, you have until May 15 to file your federal individual and business taxes. In Washington, D.C., Emancipation Day, a holiday observed in the United States, is April 17.

If you ask for an extension, you’ll have until October 16 to file your return. You’ll still have to pay any amount due to avoid penalties, but you’ll have more time to complete your forms.

You can file your federal taxes using IRS Free File at no additional cost. If you had an adjusted gross income of $73,000 or less in 2022, you are eligible for free tax preparation services. The IRS also offers free fillable forms that anyone can use, regardless of income level.

You normally have to send estimated tax payments to the IRS if you receive income that isn’t subject to withholding taxes. This can be done either using a single annualized estimate or on a quarterly basis. The quarterly payments for 2023 are due on the following dates: April 18, June 15, September 15, and January 16, 2024.