Tax Season Is Quickly Approaching, so You Better Be Ready for It.
NEW YORK, Dec. 13, 2022 /PRNewswire/ — Based on the data we got from Washington, D.C. estimates made using data from other years and depending on when a taxpayer files their return, we give you an expected timeframe for when a taxpayer is likely to get their refund.
Since the normal deadline of April 15 occurs on a Saturday, the IRS adjusts the deadline day to the following business day. Emancipation Day, a holiday celebrated in Washington, D.C., where the IRS is based, is on Monday, April 17, 2023.
Patriot’s Day, a state holiday in Maine and Massachusetts, is also celebrated on April 17. Due to everything mentioned above, the due date for federal income tax returns will be Tuesday, April 18, 2023.
The final week of January is often when the IRS begins to accept tax returns. However, the beginning of tax season might be delayed by a week or two. Especially if significant new tax legislation is passed at the end of the year. Therefore, those who file their taxes early and are entitled to a refund may do so as early as mid or late February. However, while the IRS verifies their eligibility for these credits, individuals who claim the Earned Income Tax Credit or Child Tax Credit typically have a one-month refund delay.
The IRS is not anticipated to extend the tax filing deadline for 2023.
Although it can take longer during the busiest filing season, most Americans who expect an income tax refund receive it by direct deposit in as little as two weeks. Therefore, after you have all of your tax paperwork, it’s a good idea to file your tax return electronically.
To learn about tax benefits, please visit our website for more information: https://www.yourparttimeaccountant.com/tax-return-preparation-for-small-business/
About Your Part Time Accountant
Taxpayers who work with a professional, such as Your Part Time Accountant, can inquire about the anticipated timing of their tax refund! And have greater assurance that their taxes have been filed accurately (and lawfully). Contact our professionals today so you don’t have to worry about this upcoming tax season!
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