The IRS set January 23 as the official start to the 2023 tax filing season. Many of us are now busy gathering tax-related documents for tax preparation purposes. The filing deadline to submit 2022 tax returns or to submit an extension to file is Tuesday, April 18.
Even if you go on extension until October 16, you still have to pay any tax you expect to owe by April 18 or the IRS will add penalty and interest charges to the amount owed.
The IRS provides a useful reference page on their website, which includes ‘Tips to Help People with the 2023 Tax Season’ at irs.gov
Also, you might find this two-page reference sheet of important tax-related numbers for 2023 helpful. The data includes:
- Federal Income Tax Brackets
- Capital Gains Rates
- Medicare Premiums
- IRMAA Surcharges
- Retirement Plan Contribution Limits
Susan and I will also gladly address your tax planning questions.
Here’s wishing you many happy returns!
RK