When is the tax deadline for 2023?

1 min readLast updated February 8, 2024by Unbiased team

To ensure you know how to file taxes and meet the tax deadlines in 2023, we’ve created this helpful guide.

Summary

  • The tax deadline 2023 is April 15, 2024. 

  • Extensions are available until October 15, 2024. 

  • The US business tax deadline for 2023 is the same as the citizen’s tax deadline. 

  • You can file your taxes for free online using the IRS Free File. 

  • A financial advisor can help you navigate your taxes and implement strategies to help reduce your tax burden.

When is the deadline for taxes 2023? 

Every year, the US tax deadline is the same: April 15.

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If this date falls on a weekend or public holiday, it transfers to the next business day. This happened in 2023, when April 15 fell on a Saturday, pushing the 2022 filing deadline to Tuesday, April 18.

Like most countries around the world, the US tax year starts on January 1 and ends on December 31.

A tax filing deadline aims to incentivize citizens to file their taxes well in advance of the date, meaning you have just over three months to get your taxes in order before the filing deadline. However, you can start filing your taxes from January 29, 2024.

How do I extend my tax deadline 2023?

If you anticipate that you’ll need an extension, you can file for one. This needs to be done before April 15. The extended individual tax return due date is October 15, 2024.  

Understanding the annual tax deadline and its consequences if you miss it is essential for fulfilling your role as a responsible working citizen – and avoiding tax-related penalties.  

If you’re struggling with your taxes, an expert can help. A financial advisor can help you implement the right tax strategies and ensure you’re paying the right amount of tax on time. Unbiased can connect you with a financial advisor perfectly suited to meet your needs. Answer a few simple questions, and we’ll look after the rest. Start now.  

When is the 2023 business tax deadline? 

The US business tax deadline 2023 is the same as the aforementioned regular tax deadline: Monday, April 15, 2024. However, there are other tax deadlines to be aware of, all of which depend on which forms are being filled out.  

Business tax filing deadlines are also dependent on the model and scale of your business.

Take a look at the following list of different business structures to understand which deadlines may apply to you:  

  • Sole proprietors: These business owners are not considered separate from their businesses, and as a result, they need to file both personal and business taxes simultaneously. Their required documents, including Form 1040 and Form 1040-ES, must be submitted by the regular tax deadline.  

  • Limited Liability Companies (LLCs): LLC owners are considered separate from their businesses, so they get taxed on a personal level. If you own a single-member LLC, you’ll need to fill out Form 1040 and submit your tax filings by the regular tax deadline. If you own a multi-member LLC, you’ll be required to fill out Form 1065 and Schedule K-1 on a quarterly basis.  

  • Partnerships: Just like sole proprietors, business partners are not considered separate from their businesses. They need to fill out Schedule K-1 by March 15, 2024 (the quarterly deadline), as well as Form 1065 and Form 1040 by the regular tax deadline.  

  • Corporations: Corporation owners are considered separate from their companies. Corporation owners are typically taxed on both personal and business levels. If you own an S corporation, you’ll need to fill out Form 1120-S by March 15. If you own a C corporation, you’ll need a Form 1120 and a Form 1040 to file by the regular tax deadline.  

How do I file my taxes? 

The easiest and most accessible way to file your taxes for free is to use the online IRS Free File.

Designed by the IRS, it provides simple, step-by-step instructions for how to file taxes and how to meet your tax deadline in 2023. However, your adjusted gross income (AGI) needs to be $79,000 or less in 2023 in order to qualify for using Free File.  

If you do not qualify for Free File, don’t worry; there are other options available to you.

You can use Free File Fillable Forms (which is also created by the IRS) or FreeTaxUSA. You can also fill out your forms manually and post them to your nearest IRS office.  

Whichever platform or method you use to meet your personal tax deadline in 2023, you will likely need to fill out the same list of forms, including IRS Form 1040 and Form 10-40 SR.  

If you’re not sure which method will work best for you or you don’t have the time to invest in lengthy paperwork, you can always work with a financial advisor.

A financial advisor can provide clear, simple guidance on how to meet your tax deadline every year and avoid penalties. Find a financial advisor today.

What happens if I miss the tax deadline? 

All owed taxes must be filed and paid by the deadline every year. If you owe money and you don’t meet the deadline, you may be charged a late filing fee based on the amount of your unpaid taxes. The IRS will also hold onto your refund and charge interest.

For the 2023 tax year, the interest rate is 5% per month (this is subject to change) for whatever amount is outstanding. Not filing on time may also trigger an IRS audit as it raises a red flag. 

If you owe a significant sum, they will also levy a late-payment penalty of an additional 0.5% each month until you pay what is due. The maximum late-payment penalty the IRS can charge is up to 25% – so you should always pay your taxes on time to avoid racking up debt.  

If you miss your tax deadline, you can apply for an extension via the IRS with Form 4868. It will provide you with an automatic six-month extension (for the 2023 tax year, it is October 15, 2024). 

How can I meet the 2023 tax deadline? 

Tax filing can be an exhausting and time-consuming process, but it is essential for every individual and business to know how to file taxes and to do so on time.

By learning more about the tax filing deadline in 2023 and what happens if you miss it, you can avoid penalties and don’t rack up any debt with the IRS.  

One way to ensure your taxes are on track is to speak to an expert.

Speaking to a professional financial advisor found by Unbiased can make your tax filing process faster, smoother, and much less stressful. 

Our simple questionnaire will match you with the right advisor in just a few minutes.

Writers

Unbiased team

Our team of writers, who have decades of experience writing about personal finance, including investing and retirement, are here to help you find out what you must know about life’s biggest financial decisions.

Need help with your taxes?

A financial advisor can help you navigate your taxes and implement strategies to save you money.