For those eager to file their taxes promptly, the IRS announced on Monday that it will commence accepting and processing 2023 federal income tax returns starting on Monday, Jan. 29.
However, certain taxpayers may have different deadlines.
Residents of Maine and Massachusetts, for instance, will have until April 17 to submit their returns due to the observation of Patriots’ Day and Emancipation Day holidays in those states.
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Individuals or businesses in federally declared disaster areas might have extended deadlines. For example, if you were impacted by the storms and tornadoes beginning on Dec. 9 in parts of Tennessee, you have until June 17, 2024, to file and settle your tax obligations.
A list of federally declared disaster areas and information on available tax relief can be found here.
If you are unable to file by mid-April, consider applying for an automatic six-month filing extension by April 15 to avoid a late-filing penalty.
Keep in mind that regardless of your filing date, if you owe the IRS money for tax year 2023, the amount is due by your April filing deadline.
Failure to make the payment by the general filing deadline may result in a late payment penalty, along with accruing interest.
IRS Urges Prompt Filing with Complete Information
As per an official announcement, the IRS has clarified that taxpayers who possess all the necessary information for filing their returns do not need to postpone their tax-related tasks. Many online tax return software providers allow users to complete their returns in advance and accept the submission when ready, holding it until the IRS initiates processing.
The IRS Free File service will be accessible on IRS.gov starting Friday, according to the agency. Participating tax return software companies can receive completed tax returns, retaining them until they can be electronically filed with the IRS. Specifically, the IRS Free File Guided Tax Software, exclusively available on IRS.gov, caters to taxpayers or families with Adjusted Gross Income of $79,000 or less in 2023.
A novel feature introduced this year is Direct File, offering eligible taxpayers the option to file their 2023 federal tax returns online directly with the IRS at no cost.