IRS Announces 4 Key Tax Season Dates
Tax filing season officially starts on Monday, Jan. 23, one of four key tax dates the IRS announced today.
In other words, the IRS will begin accepting and processing 2022 federal income tax returns on that date.
So, if you are an early bird, you can submit your return in less than two weeks — although you should never file until you have received all your 2022 income forms, some of which may not be owed to you until Jan. 31.
Those who plan to file as soon as possible will be glad to know that the IRS Free File program will be open for business on Friday, Jan. 13.
Free File lets taxpayers who made $73,000 or less in 2022 file their taxes electronically for free. Commercial tax filing software companies provide the software used with the service.
If you are a procrastinator, you will have a little extra time before your return is due this year. The deadline is Tuesday, April 18, three days later than usual. That is also the deadline for requesting an extension to file your tax return.
The usual deadline, April 15, falls on a Saturday this year. The IRS notes that it pushed Tax Day to April 18 because the next business day, Monday, April 17, is the observance of Emancipation Day in Washington, D.C. By law, holidays in the District of Columbia impact tax deadlines for everyone in the same way federal holidays do.
Finally, if you request an extension, you will have until Monday, Oct. 16, to file your return. Requests for an extension automatically are granted if you file Form 4868. Just remember, though, that although you can get an extension to file your tax return, you must actually pay any taxes due by April 18 — and missing that deadline could mean a fine.
Home equity loans can be useful financial tools in retirement. However, these loans can be more difficult to secure…