When are taxes due in 2023? Important dates to know

Each year, individual income earners across the country pay taxes on their wages. Taxpayers must have their taxes filed with the IRS by the annual Tax Day—usually around April 15. If the due date falls on a weekend or a legally recognized holiday, the date may shift. There are also instances where you can ask for a six-month extension. You can check with your state’s tax department to understand local deadlines.

Read on for more details, important dates and what you should know about filing your taxes this year.

Key takeaways

• Tax Day is normally April 15, unless that date falls on a holiday or weekend.
• In 2023, Tax Day falls on Tuesday, April 18, because of the weekend and observance of Emancipation Day. For Massachusetts and Maine filers, taxes are due on April 19, as those states observe Patriots’ Day.
• The IRS starts accepting returns as early as January—giving taxpayers nearly three months to complete returns.
• If necessary, you can request a filing extension with the IRS, but that doesn’t mean the tax payment due date is extended.

Take a quick look at some important milestones for filing taxes in 2023.

Usually, the prior year’s tax return is due to be filed on April 15—sometimes referred to as Tax Day. However, the deadline is extended when Tax Day falls on a holiday or weekend. This will be the case in 2023.

The filing due date will be extended until April 18, 2023, for most individuals. If you are filing in Maine or Massachusetts, where Patriots’ Day is observed, you’ll have until April 19.

Even if you don’t expect to owe any tax liability because your income is low, you may still need to file a tax return.

How early can I file my taxes in 2023?

You can start filing taxes as early as January, but keep in mind that employers and businesses have until January 31 to send tax forms.

Today, many employers provide W-2s online through payroll services, which makes accessing tax forms easier and faster for many taxpayers. For those who owe self-employment tax and are expecting a 1099-MISC or a 1099-NEC, the deadline for businesses to provide these forms is January 31.

Some taxpayers may receive tax forms for other unique situations like annual student loan interest accrued (1098-E), tuition expenses (1098-T) or interest earned on an investment (1099-INT). Typically, the same January 31 deadline applies to businesses that are required to send out these tax forms.

Occasionally, the IRS extends the tax filing deadline for individuals. Other than when Tax Day falls on holidays and weekends, the IRS may extend the deadline for individuals or communities facing extenuating circumstances. For example, because of COVID-19, the IRS extended the filing deadline for 2020 by three months to July 15. The following year, the tax filing deadline was extended again to May 17, 2021.

Federally declared disasters

The IRS may also extend filing and payment deadlines for taxpayers impacted by a disaster. According to the IRS, these circumstances apply for either a federally declared disaster or significant fire and when the original filing or payment due date occurs within the disaster period.

Taxes are due as soon as you file and know your tax liability. For example, if the due date for tax filing is April 15, that’s also when tax liability will be due. For 2023, tax payments are due on April 18. It might be best to pay your taxes as soon as you can so you don’t incur any penalties for failure to pay.

When are quarterly taxes due?

Self-employed individuals may owe estimated payments throughout the year. These quarterly tax payments are for nontaxed income earned in the prior three months. It might help to ask a tax professional about the amount you owe for estimated payments.

Unless there’s a weekend or holiday, due dates for quarterly taxes typically fall on the 15th of April, June, September and January. Quarterly taxes for tax year 2023 are due on the following dates:

• For Q1 2023: Tuesday, April 18, 2023
• For Q2 2023: Thursday, June 15, 2023
• For Q3 2023: Friday, September 15, 2023
• For Q4 2023: Tuesday, January 16, 2024

Not filing taxes by the deadline can result in a “failure to file” penalty. The penalty is 5% of the unpaid taxes for each month that a tax return goes unfiled. The fine won’t exceed 25% of the unpaid tax amount.

What is the penalty for paying taxes late? 

Similar to “failure to file” penalties, the IRS will issue “failure to pay” penalties if taxes aren’t paid on time. The failure to pay penalty is 0.5% of the unpaid tax bill per month. The penalty won’t exceed 25% of the total tax bill owed. It’s also important to note that those who don’t pay could end up owing interest on top of the penalty.

If a taxpayer can’t afford to pay their taxes, the IRS offers payment plans to help. When a taxpayer is on a payment plan, the failure to pay penalty will be reduced to 0.25% a month.

Even if a tax liability can’t be paid right away, it’s still important to try to file a tax return, as the failure to file penalty will add to the overall penalty as well. If a taxpayer is being charged both penalties, the failure to file penalty will be reduced by the amount of the failure to pay penalty. This means that the taxpayer will be charged 4.5% for failure to file and .5% for failure to pay.

The IRS charges full-month penalties, regardless of whether you pay the tax bill halfway through the month.

Be wary of tax scams saying you have a late tax payment

The IRS will send a letter informing the taxpayer that they owe a failure to file penalty. The IRS always uses formal correspondence about any debt owed, so be wary of potential tax scams.

In some cases, taxpayers need extra time to prepare their returns. The IRS allows individuals to file for a tax extension that typically gives them until October 15—an extra six months. If you file for an extension for the 2022 tax year, you’ll have until October 16, 2023, to prepare your return.

An extension request must be filed by the regular due date for the return. Should the extension due date fall on a weekend or holiday, the same rules apply for the regular due date—the extension will be pushed to the next business day.

Keep in mind that an extension doesn’t extend the time a taxpayer has to pay their tax bill, just the time to file. It’s best to estimate and pay any tax liability by the regular due date to avoid penalty fees.

As a taxpayer, it’s important for you to stay on top of the deadlines and file taxes on time. The federal deadline for taxes is April 18, 2023. Even if you need an extension, paying your tax bill on time can help prevent penalties.

Tax due date approaching? Learn more about how to file taxes.