Updated: December 20, 2022: 8:51 am ET.
It’s too early to tell, but in case you’re wondering, here’s our annual chart of the #1 question we get each year: “When will I receive my tax refund?” The answer is never right, but we can make educated guesses based on a few factors.
Now is also a good time to take advantage of year-end strategies that can lower your tax bill, or increase your refund.
If you had a big change in income this year, had a baby, got married or divorced, retired, bought a house, changed investments, or made another significant change in life, you should seek the advice of a tax expert. CPA or EA before the end of the year. The sooner the better. Even if you can’t reach one until the beginning of January, such a professional can still give valuable advice that can change your taxes.
[The estimated refund date chart is below if you just want to scroll down.]
Will the 2023 tax season be legal? It may be closer to normal than in 2019, the last tax filing season before COVID-19 caused office closures, even at the IRS, which delayed payment deadlines 2020 tax for several months. The pandemic has also introduced debt and many cuts for businesses, as well as stimulus payments for most Americans. These are also sometimes given as a credit to the taxpayer’s tax, if they are not paid directly.
Most individual taxpayers will have no such problems this tax season. To clarify, the week before April 18, 2023The deadline is when Americans file their income tax returns for the 2022 tax year, or they can file for an automatic extension, which gives them six more months to file.
TThe tax deadline is April 18, 2023?
Why is the 2023 tax deadline April 18 instead of April 15? Because April 15th, the usual deadline, is on a Saturday. When the deadline falls on a weekend, the IRS moves the deadline to the next business day. However, that Monday, April 17, 2023 is Independence Day, a holiday recognized in Washington, DC, where the IRS headquarters are located.
April 17 is also Patriot’s Day, a state holiday in Maine and Massachusetts. As a result, the deadline to file your federal income tax return (generally Form 1040) is Tuesday, April 18, 2023, and most states follow the same calendar. on your state tax return.
Depending on when the taxpayer files, they usually receive their tax payment (check or direct deposit) in just 2-3 weeks.
When will the IRS start accepting 2023 tax returns and issuing refunds?
The IRS usually begins accepting tax returns during the last week of January. If major new tax legislation is passed by the end of the year, it could push the start of tax season back a week or two. Therefore, early taxpayers who are due to receive their refunds usually see them in mid-February or late February. However, taxpayers with income tax credits or child credits their refunds are generally delayed by about a month if the IRS verifies the validity of these credits.
Although the last two tax filing seasons have been greatly affected by the Covid-19 pandemic, and the IRS has extended both periods, the IRS is not expected to extend the tax filing period in in 2023.
The chart below shows a estimate a timeline of when taxpayers are likely to receive their refunds, based on the information we have now, and using projections based on previous years – and depending on when people file their returns. If your IRS tax refund is late after you file, ask your tax preparer, or simply use the “Where is my review?” material on the IRS website. Or download the IRS2Go application to check the status of your refund.
Most Americans expecting an income tax refund receive it via direct deposit within 2 weeks, although it may take longer during the peak installation season, which starts at the end of March. So it’s a good idea to e-mail your tax return as soon as you have all your tax documents (like W2s, 1099s, student loans and interest, and more).
A number of factors can determine when a taxpayer receives their tax return, including:
- How long do they put
- If the taxpayer claims certain credits (especially the EITC and CTC)
- Returns are either mailed or mailed
- Whether the taxpayer owes money to the federal government
Note: The IRS will delay processing for 2-3 weeks if there is a tax return Earned Income Tax Credit (EITC) or Child Tax Credit (CTC), which allows the IRS to verify that the taxpayer qualifies for the credit.
So, here is the chart you’ve been looking for. If the IRS changes the tax season this year, we will update this chart. And remember: This is an forecast while you wait for your refund. This is not true, as all taxpayers have different returns and circumstances. Note that the first column is when the IRS “accepts” your return, which can be 2-3 days after you file it electronically. Mailing the return can cause an additional delay of a few weeks at the beginning of the process, as the IRS needs to enter it into its computer system.
Estimated 2023 IRS Tax Return Chart
|The IRS accepts E-Filed returns:||Direct deposit sent (or certificate sent 1 week later):|
|The IRS may begin accepting income tax returns
on January 23, 2023.
|January 23, 2023*||February 3 (February 10)**|
|January 30, 2023*||February 10 (February 17)**|
|February 6||February 17 (February 24)**|
|February 13||February 24 (Mar 3)**|
|February 20||March 3 (March 10)**|
|February 27||March 10 (March 17)|
|March 6||March 17 (March 24)|
|March 13||March 24 (April 1)|
|Mar. 20||March 31 (April 7)|
|Mar. 27||Apr 7 (Apr 14)***|
* = IRS may delay the start of tax season by a week or more.
** = Returns with EITC or CTC may have refunds delayed until March to verify credit.
*** = Shipments during peak season may result in longer wait times.
|The IRS accepts returns for:||Direct deposit mailed (or certified mail one week later)|
|April 3, 2023||Apr 14 (Apr 21)***|
|April 10||Apr 21 (Apr 28)***|
|April 17||Apr 28 (May 5)|
|April 24||May 5 (May 12)|
|May 1st||May 12 (May 19)|
|May 8||May 19 (May 26)|
|May 15th||May 26 (June 3)|
|May 22||June 3 (June 10)|
IMPORTANT: If you file electronically (using a program or online tax preparer), the IRS will notify you of the exact date they “accepted” your return. This is usually 1-3 days from when you hit the “file” or “submit” button, and that’s the date you should use on the left side of the chart above.
Taxpayers who file their income tax returns can expect a delay of at least 3-4 weeks at the end of the process, as the returns must be entered into the IRS system before to do it.
Be safe – hire a professional
Taxpayers who use a professional, such as a CPA or EA, can ask that professional the estimated date of their tax return, and they can be more confident that their taxes have been filed correctly (and legally).
There are also apps for Apple, Android and other devices that help monitor the recovery status.
Generally, the IRS says that returns with refunds are processed and payments are issued within 21 days, and usually within 10 days. For paper keepers, however, it may take longer. The IRS and tax professionals strongly encourage electronic filing.
What if you can’t file your income tax return by April 15?
Taxpayers who do not have all the necessary documents to file their taxes can easily file an extension, “Form 4868, Request for Automatic Extension of Time to File Tax Returns for US Individuals.” – This will give taxpayers until October 17, 2023 to file their taxes. There is no reason or excuse needed to get this extension, and as the title says, it is granted automatically.
However, if a person is required to pay taxes, they are still obligated to pay those taxes until April 18, 2023. although they asked for an extension put. A professional can help with this. In general, only those who are due to receive a refund need to submit the extension request before April 18, 2023. Any tax professional and most tax software programs can perform this task.