Tax season refers to the period of time when individuals and businesses file their tax returns to the government. In the United States, the tax season typically runs from January to April 15th, with the due date for filing federal income tax returns. During this time, taxpayers must gather their financial information and documentation, complete their tax returns, and either file them electronically or mail them to the appropriate tax agency.
It's important to be well-prepared for tax season by having all the necessary documentation and records, understanding the tax laws and any changes, and knowing any deadlines. Taxpayers can choose to file their own taxes or work with a tax professional to help with the process. It's also a good idea to check for any available tax credits or deductions to maximize your refund or minimize your tax liability.\
When is the Tax Deadline in 2023?
Why is the 2023 tax deadline April 18 instead of April 15? Because April 15, the standard deadline, falls on a Saturday. When the deadline falls on a weekend, the IRS moves the deadline day to the next business day. However, that Monday, April 17, 2023, is Emancipation Day, a holiday recognized in Washington, D.C., where the IRS is headquartered.
If you want a tool to help you calculate taxes, you may use:
- https://turbotax.intuit.com/tax-tools/calculators/taxcaster/
- https://www.taxact.com/tools/tax-calculator
Source: CPA Practice Advisors
