It’s never too early to start preparing for taxes. Knowing the important deadlines in advance is key to having a stress-free tax season. With “Tax Day” inching ever closer, taxpayers should be aware of multiple deadlines throughout 2023. Individuals and businesses should review the list of major federal tax deadlines below and prepare accordingly.
- March 15, 2023 - Deadline for partnerships and S corporations to file either an income tax return or a request for an automatic 6-month extension to file the tax return.
- April 3, 2023 - Deadline for individuals who turned 72 during 2022 to take their first required minimum distribution from their retirement account.
- April 18, 2023 - Deadline for individuals and corporations to file either an income tax return or a request for an automatic 6-month extension to file the tax return. This is also the deadline for individuals to make contributions to their IRA and HSA for tax year 2022 and the deadline for individuals to make estimated tax payments for the first quarter (Q1) of 2023.
- June 15, 2023 - Deadline for individual U.S. citizens or resident aliens living and working outside the United States to file either an income tax return or a request for a 4-month extension to file the tax return. This is also the deadline for individuals to make estimated tax payments for the second quarter (Q2) of 2023.
- September 15, 2023 - Deadline for partnerships and S corporations to file their extended income tax return. This is also the deadline for individuals to make estimated tax payments for the third quarter (Q3) of 2023.
- October 16, 2023 - Deadline for individuals and corporations to file their extended income tax return.
- December 31, 2023 - Deadline for individuals who are 73 or older by the end of 2023 to take their required minimum distribution from their retirement account.
Taxpayers should be mindful of these deadlines and their corresponding obligations. Individuals and businesses must file all required income tax returns and information statements, submit all required tax payments (e.g., estimated payments), and maintain proper documentation for their income and expenses/deductions throughout the year. Accordingly, taxpayers should work with an experienced tax professional to be (1) proactive with their tax reporting and payment obligations, and (2) implement tax planning and strategies for future tax years. Provident Legal Counsel provides both types of tax services—from preparing tax returns to implementing tax planning strategies.
Contact Provident Legal Counsel today to discuss your case and legal options. Schedule a Consultation or call (214) 432-6100.
