U.S. Tax Filing Deadline 2023 Extension
The deadline for U.S. taxpayers to file their taxes has been extended to June 15, 2023. This change was announced by the Internal Revenue Service (IRS) as part of an effort to help taxpayers and their tax preparers manage the new tax laws that have been enacted since 2021. The deadline extension applies to both individual and business taxpayers.
The extension provides taxpayers with additional time to become familiar with the new tax laws and make any necessary adjustments to their tax filing strategies. For example, some taxpayers may need to adjust their estimated tax payments to take advantage of the new tax credits that are available. Additionally, the extension may provide additional time to receive information from employers, banks, and other third parties that are needed to complete a tax return.
The IRS is encouraging taxpayers to file their taxes as early as possible, even if they do not expect to owe taxes. By filing their taxes early, taxpayers can avoid late filing penalties, reduce the risk of identity theft, and ensure that their refunds are processed quickly.
Taxpayers who need additional time to file their taxes beyond the June 15th deadline can apply for an extension of time to file. The IRS will grant an extension of up to six months if taxpayers submit Form 4868. This form can be filed online or through a tax preparer. Taxpayers who file for an extension must still pay any taxes due by the original filing deadline, to avoid interest and penalties.
Taxpayers can also make estimated payments to the IRS to cover any taxes that may be due for the 2021 tax year. These payments can be made electronically using the IRS's Electronic Federal Tax Payment System (EFTPS), or by sending a check or money order to the IRS. Taxpayers should make sure to include their Social Security Number and the tax year for which the payment is being made.
The IRS is encouraging taxpayers to use their free online filing options, such as Free File, which can be found on IRS.gov. This service is available to taxpayers who earned $72,000 or less in 2021 and can help taxpayers complete their taxes quickly and accurately. Additionally, taxpayers can use the IRS Free File Fillable Forms, which is a free online form-filling program available to all taxpayers.
Taxpayers should also be aware that the IRS is offering several additional tax relief options, such as penalty and interest waivers, penalty abatement, and more. To learn more about these options, taxpayers should visit the IRS website or speak with a tax professional.
Conclusion
The IRS has extended the U.S. tax filing deadline for individual and business taxpayers to June 15, 2023. This extension provides taxpayers with additional time to become familiar with the new tax laws and make any necessary adjustments to their tax filing strategies. Additionally, taxpayers can apply for an extension of time to file if needed, or make estimated payments to cover any taxes due for the 2021 tax year. The IRS is also offering several additional tax relief options that taxpayers can take advantage of.